Proposes Bond To Fix Streets
January 7, 2013
LOS ANGELES (KABC) -- An effort is under way by local lawmakers to get a bond measure to fix damaged Los Angeles streets on the May ballot.
The Los Angeles City Council needs to approve the 3$ billion 20-year bond measure by Jan. 30 to get it before voters.
Under the measure, the owner of a $350,000 home would pay about $24 more in property taxes the first year of the bond.
That property tax increase would peak at about $120 in ten years.
The most recent street services reports shows 38 percent of Los Angeles streets got failing grades.
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