L.A. City Council Proposes Half-Cent Tax Hike
When in doubt, raise taxes.
That appears to be the Los Angeles City Council’s solution for the current money problems facing Los Angeles. At its meeting today, City Council President Herb Wesson said the council will consider four possible tax hikes on the March ballot, The Los Angeles Times reported Wednesday.
The largest such tax hike is a half-cent sales tax increase. Wesson estimated the tax increase would generate $220 million in revenue for the City.
“I can’t say if we do this we’ll never have a budget shortfall again,” Wesson was quoted saying. “But this will help us for now if we’re successful.”
Wesson’s tax measure would give Los Angeles one of the highest sales tax rates in L.A. County at 9.25 percent, just below the 9.75 percent of Pico Rivera
Other measures the L.A. City Council was expected to discuss today were measures on property tax boosts to pay for parks, higher levies on parking lots and increased taxes on real estate sales.