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Massive Property Tax Hikes Looming for Los Angeles

The tax climate forecast for Los Angeles County has turned gloomy. There is an $8 billion annual tax storm that is coming in 18 months. It will rain on every property owner in the county.

But the tax monies will mainly flow to a few politically connected groups and unions.  To comply with new state law, the Los Angeles County Department of Public Works is proposing an annual parcel tax of $8 to $83 per single-family home.

Big box retailers will get a tax bill for $15,000 per year, in addition to their existing property taxes.  And commercial properties in downtown Los Angeles on impervious clay soils will get socked with a $200,000 added tax per year for storm water capture projects.

Source: California Watchdog. Read full article. (link)

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