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Proposition 13 declared property taxes were to be assessed their 1976 value and restricted annual increases of the tax to an inflation factor, not to exceed 2% per year. A reassessment of the property tax can be made only when a) the property ownership changes or b) there is construction done. [7]
However, this is a statutory restriction and the California Legislature routinely allows some local governments, through the adoption of separate legislation, to exceed the 2.00 percent local tax rate cap. The 2.00 percent local tax rate cap is exceeded in any city with a combined sales tax rate in excess of 9.25% (7.25% statewide tax rate plus ...
The court in many jurisdictions, especially states that as of 2012 prohibited surety bail bondsmen – Oregon, Nebraska, Wisconsin, Illinois, Kentucky and Maine [29] – may demand a certain amount of the total bail (typically 10%) be given to the court, which is known as surety on the bond and unlike with bail bondsmen, is returned if the ...
The government of the City of Los Angeles operates as a charter city (as opposed to a general law city) under the charter of the City of Los Angeles.The elected government is composed of the Los Angeles City Council with 15 city council districts and the mayor of Los Angeles, which operate under a mayor–council government, as well as several other elective offices.
Even though the tax on fixed-income securities was much lower than that on equities, the impact on market trading was much more dramatic. During the first week of the tax, the volume of bond trading fell by 85%, even though the tax rate on five-year bonds was only 0.003%.
The Congressional Budget Office (CBO) used procedures similar to those specified in the Federal Credit Reform Act (FCRA) to value assets purchased under the TARP. [ 4 ] In a report dated February 6, 2009, the Congressional Oversight Panel concluded that the Treasury paid substantially more for the assets it purchased under the TARP than their ...
After the passage of Measure R in November 2008, the new sales tax rate in Los Angeles County rose to 8.75% (since 2013, 9-10%), second only to Alameda County in California (though there were a few cities whose sales tax rates exceeded the new rate). [2]
Sovereign debt ("Liberty Bonds") was again used to finance its World War I efforts and issued in 1917 shortly after the U.S. declared war on Germany. Each maturity of bond (one-year, two-year, five-year and so on) was thought of as a separate market until the mid-1970s when traders at Salomon Brothers began drawing a curve through their yields.