The Spelling Manor in Holmby Hills | Photo by Atwater Village Newbie via LAist Featured Photos on Flickr
"I'm very reticent right now to raise any property taxes at this time," Mayor Antonio Villaraigosa said a press conference yesterday morning when asked about Councilmember Richard Alarcon's "luxury" tax that would tax households at least $1,000 larger than 5,000 square feet.
The motion will go before the City Council this morning, but it is unlikely it will do well. It was talked about in a city committee yesterday, but no action was taken. "[It's] not appropriate to move forward," Councilmember Wendy Greuel told KNBC citing the utility users tax that was presented to voters earlier this year.
If the council actually approves the luxury tax, it would go before voters on the March 2009 ballot and will need a two-thirds approval.
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Thank you for your coverage of things that matter in Los Angeles. I find it refreshing when compared to the dross I see main stream media promoting.
It might be even better if the federal government would tighten the tax laws so the wealthy actually paid the percentages they are expected to.