The Los Angeles City Council Wednesday instructed city attorneys to craft four ballot measures that would raise property, real estate, parking and sales taxes.
Council President Herb Wesson added on Tuesday a proposed sales tax to the three already under consideration; a half-cent sales-tax proposal would increase the total sales tax rate within the city from 8.75% to 9.25% putting it on par with cities like Santa Monica and Inglewood that have the highest rates.
He recommended the council have city attorneys craft language for all four proposals to give city officials options even though he hopes only one passes, according to the Los Angeles Times.
Wesson’s proposed tax would generate $200 million in new revenue.
The measures would be added to the March ballot when voters will also choose a new mayor and fill seven council positions.
The other proposals include one that increases the parking tax from 10% to 15%, generating $40 million a year, another increasing the transfer tax on home sales, expected to bring in between $76 million and $103 million, and a $39 parcel tax on properties to raise $30 million for the Recreation and Parks Department.
Next week, voters around California will decide 237 local revenue measures seeking approval for taxes, bonds or fees, including 106 general obligation bond measures and seven local government GO bond measures seeking a total of $14.97 billion, according to data compiled by California League of Cities fiscal policy advisor Michael Coleman.
Another statewide sales tax, part of Gov. Jerry Brown’s Proposition 30 tax package, would raise the state sales tax .25% for four years.
If Prop. 30 passes next week and Los Angeles voters approve Wesson’s proposal in March, the total tax rate in Los Angeles would hit 9.5%.
Proposition 30 would also increase personal income tax rates on earnings over $250,000 for seven years.
Voters in all of Los Angeles County are also being asked next week to authorize a 30-year extension of an existing half-cent sales tax, would accelerate the timeline on the region’s subway and light rail expansion plan.