California proposes tax increases on Nov 5th ballot to fund essential services, addressing budget strains via sales, parcel, and hotel taxes amid rising pension costs linked to public worker commitments.
California cities are proposing various tax increases on the November 5th ballot to raise revenue for essential services like public safety. These measures target sales, parcel, and hotel taxes, driven by rising pension costs linked to past promises made to public workers. Cities are also considering pension obligation bonds (POBs) to manage debt, though this strategy faces criticism for potential financial risks. The aim is to address budget strains without compromising community services.
October 20, 2024
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