LOS ANGELES COUNTY : Loss of Tax Revenue May Worsen, Official Says
Los Angeles County may lose up to $750 million in state-allocated property tax revenue if the Legislature adopts Gov. Pete Wilson’s state budget proposals, Chief Administrative Officer Richard B. Dixon told the Board of Supervisors on Monday.
Dixon said his latest analysis of the proposed state budget shows that it could have a much harsher impact on county government than expected. The county’s projected $845.5-million budget shortfall for fiscal year 1993-94 could increase, he said.
“The governor proposes to transfer a substantial amount of property taxes (totaling $2.6 billion) from counties, cities and special districts to schools,” Dixon wrote.
Dixon also reported that more than 1,900 employees have been granted early retirement under a program meant to reduce the county work force.
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