• Monitoring Taxes

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    November 17, 2016
    All the taxes on the November 8, 2016 General Election Ballot passed with over whelming support, even though some needed a 2/3 majority, which they received. A half cent sales tax increase for transportation, a property tax increase on the county level for parks and a storm water tax in Culver City to assist in the city complying with the Environmental Protection Agency.
    The extension of the 3% income tax surcharge on incomes of over $250,000 per year, the state sales tax portion drops by a quarter of a cent. Los Angeles County is putting on the March Community College Election a quarter of a cent sales tax to build housing for the homeless.
    This long explanation is that as a result if the March sales tax passes the voters, Culver City will have a 10% sales tax on all products sold within its city limits, with the exception of food and if you register your car in another city, then the sales tax is charged at the rate where it is registered.
    I do have concerns from a competitive point of view if the public will now notice the higher sales tax rate in Culver City versus Los Angeles. 10% versus 9.5%, once you reach double digits on sales tax, people from surrounding cities may notice the difference. It's a concern that we need to monitor to insure that we have not created "leakage" by raising our taxes to a higher level then surrounding cities.

    That's what I think...

    Steven J. Rose, ACE
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