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Luxury Tax to Go Before City Council Today

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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.

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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.