Stockton : State Data and Comparisons : Data-Z

Stockton, CA

TIA Data

2023 Financial State of Stockton (Released 02/27/2024)

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Stockton owes more than it owns.

Stockton has a -$1,000 Taxpayer Burden.™

Stockton is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Stockton only has $717.1 million of assets available to pay bills totaling $834.1 million.

Because Stockton doesn't have enough money to pay its bills, it has a -$117 million financial hole. To erase this shortfall, each Stockton taxpayer would have to send -$1,000 to the city.

Stockton's reported net position is inflated by $187 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 257 days after its fiscal year end, which is considered untimely according to the 180 day standard.