Californians facing sticker shock as local governments seek $3.2 billion in tax increases, $52 billion in bond debt
As Californians prepare to head to the polls on November 5, they are facing a hefty price tag as local governments across the state are seeking approval for $3.2 billion in new tax increases and $52 billion in bond debt. In total, there are 531 local tax and bond measures on the ballot, which could significantly impact the cost of living for residents.
One of the most concerning aspects of these measures is the 110 sales tax hikes being proposed, which are regressive and hit low-income Californians the hardest. If all of these sales tax measures are approved, taxpayers could expect to pay an additional $2.7 billion in new taxes on everyday purchases.
In Los Angeles County alone, residents could see local sales tax rates reach as high as 10.75 percent, making it one of the costliest places to live in the nation. Additionally, some cities are looking to automatically increase sales tax rates to the highest possible level allowed by state law, circumventing taxpayer protections.
The high cost of housing in California is also a major concern, with the median price for a single-family home reaching $886,560 in July. The passage of Proposition 5 on the statewide ballot could make it easier for local general obligation bonds to pass, leading to higher property taxes for homeowners and businesses.
While taxes are necessary to fund essential services, Californians are urged to consider affordability when casting their votes in the upcoming election. Tobias Wolken, a policy advocate at CalTax, encourages voters to prioritize the impact these measures will have on their cost of living and the ability to achieve homeownership.
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