The Los Angeles City Council directed the City Attorney to draft four proposed ballot measures aimed at generating millions of dollars that will help bring some relief to the City’s budget shortfall.
Councilmember Bill Rosendahl, who spoke in favor of the proposed General Fund half-cent sales tax measure in Council on Tuesday, approved the drafting of all four proposals.
The General Fund Sales Tax Measure will generate approximately $220 million. The other proposed ballot measures will each generate around $40-80 Million: adopt a tiered documentary transfer tax increase that would double it from 4.5 percent per $1,000 to $9 per $1,000 on property over $586,000 in value; take the parking occupancy tax from 10 percent to 15 percent; and a $39-a-year parcel tax to support parks programs (source).
By law, the City had until this past Tuesday to instruct the City Attorney to draft the ballot measures. The draft ballot measures will return to the City Council on November 13th for another round of review and series of votes on which one, if not all, to place on the March 2013 ballot.
Council President Herb Wesson stated during today’s meeting that he wants just one proposal on the ballot.