RANCHO PALOS VERDES : Residents May Get Utility Tax Break
The city hopes to give residents a $500,000 tax break on utilities next year.
After a public hearing on the city’s budget last week, council members decided that an expected $500,000 surplus from this year’s utility user tax should go into a special reserve so the tax can be reduced in 1994-95 from 3% to 2%.
But City Manager Paul Bussey said the tax cut will depend on how much money the city gets from the state budget.
Bussey said the council made several changes to budgeted expenditures to save about $800,000. It plans to spend $100,000 of that money on street improvements, he said.
About $200,000 will go into a special reserve for future improvements to Palos Verdes Drive South on the southeast boundary of the city.
The council is expected to adopt the budget Tuesday.
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