CITIES
Untitled Page
Cities take hit with loss of tax revenue
State Board of Equalization announces new reductions in payments to local governments.
By Susan BelknappPublished: December 02, 2009 10:45 AM
The California State Board of Equalization (BOE) announced Monday that 535 letters have been sent to local finance directors explaining that declining state sales tax revenues have caused a reduction in expected local allocations for their November 2009 advances. In addition, 19 jurisdictions received letters notifying them they will be receiving no November advance.
Two of those cities, La Palma and Villa Park, are in Orange County. Because of such a low amount of taxable sales, neither will be receiving any allocations for this quarter.
Thirty-two of 34 incorporated cities in the county showed a combined $6 million drop in sales tax revenue last month, according to the BOE. The only two cities that escaped a cut were Seal Beach and Los Alamitos.
Orange County government saw a drop of $1.8 million while the Orange County Transportation Authority lost $3 million in November. This is the third time this calendar year that the state Board of Equalization has notified local jurisdictions that sales tax revenue had come in below projections.
NEXT PAGE >>
Related headlines
Assemblyman Solorio seeks to stop sale of O.C. fairgrounds
Aliso Viejo's Networks In Motion gets bought out
Whole Foods Market plans to open at Bella Terra
|
||||
|
Two of those cities, La Palma and Villa Park, are in Orange County. Because of such a low amount of taxable sales, neither will be receiving any allocations for this quarter. Thirty-two of 34 incorporated cities in the county showed a combined $6 million drop in sales tax revenue last month, according to the BOE. The only two cities that escaped a cut were Seal Beach and Los Alamitos. Orange County government saw a drop of $1.8 million while the Orange County Transportation Authority lost $3 million in November. This is the third time this calendar year that the state Board of Equalization has notified local jurisdictions that sales tax revenue had come in below projections. NEXT PAGE >> Related headlines Assemblyman Solorio seeks to stop sale of O.C. fairgrounds Aliso Viejo's Networks In Motion gets bought out Whole Foods Market plans to open at Bella Terra |
||||
