Newport Coast Annexation Would Pay Off, Study Says
Council members will consider a financial report next week that shows more money would be made than spent by making Newport Coast a part of the city.
If annexation is approved, Newport Beach would earn about $2.4 million annually in sales and property taxes once Newport Coast is completely developed, according to the report.
City Manager Kevin J. Murphy said the city’s earnings would outweigh any costs, with the expensive homes bringing in a bounty of property tax revenue. Since most of the Newport Coast neighborhoods will be private, gated communities, the city would be released from paying for road maintenance and parking enforcement.
Newport Coast residents already use city services, including the library and law enforcement.
The council meets on Monday at 7 p.m. at City Hall, 3300 W. Newport Blvd. Information: (714) 644-3309.
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