Tags: taxes | sales | increases | california

L.A. Considers Sales Tax Increase

Wednesday, 31 Oct 2012 01:38 PM

By Alec Weisman

The Los Angeles City Council is considering adding four new tax increases to the March 2013 ballot, including a proposal to raise the sales tax by an additional half cent, which would make it among the highest in the state and country.
 
According to the Los Angeles Times, the sales tax, drafted by council president Herb Wesson, would generate an estimated $220 million a year for the city.
 
Wesson said the tax increase was needed because “We've cut just about everything that we can cut.”
 
“I can't say if we do this we'll never have a budget shortfall again,” he added. “But this will help us for now if we're successful.”
 
The council will also consider when it meets today an increase in the property tax to pay for city parks, higher rates on parking, and increased taxes on real estate sales.
 
The plan to raise taxes has received support from local unions, while business and taxpayer advocates have announced their opposition.

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