10% Parking Tax Raises $12.3 Million in 4 Months
Preliminary figures from the Los Angeles city clerk’s office show that $12.3 million has been raised from a 10% citywide parking tax that took effect in August. The figures, which are through November, could mean an additional $14 million this year to the city.
The parking tax was part of a revenue package to finance the city’s record $3.68-billion budget. City officials projected that the tax would bring in $22.5 million each year.
One of the largest tax receipts, $1.7 million, came from Los Angeles International Airport, with 25,000 parking spaces.
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