LA WATCHDOG – The City Council is considering placing three measures on the June primary ballot that would, if approved by a majority of voters, increase the Transient Occupancy Tax (hotel and short term rentals) and the Parking Occupancy Tax and establish the Olympic Ticket Tax.
There would not, however, be any ballot measures that would reform the City’s dysfunctional budget process that would require the City to eliminate the Structural Deficit that is expected to be more than $600 million over the next four years when adjusted for future labor agreements.
The Transient Occupancy Tax would be increased from 14% to 16% and is expected to raise an additional $55 million, bumping the total haul of the TOT from $315 million this year to $370 million. There are other changes involving online travel companies, various hotel charges, and online home-sharing platforms. The proceeds are deposited in the General Fund, to be used in a manner decided by the Council and the Mayor…