COUNTY WATCHING PROP. 217 : SUPERVISORS BACKING SURTAX ON WEALTHIEST.Byline: Christopher Noxon Daily News Staff Writer Ventura County officials are keeping close watch on a November ballot initiative which could have a dramatic impact on how taxes are raised and spent. Proposition 217 would establish a 10 percent to 11 percent tax bracket Tax Bracket The rate at which an individual is taxed due to a particular income level. Notes: Each income class is taxed at a different level. Generally, the more you make the more you are taxed. on the wealthiest taxpayers to benefit local government. County officials hope the initiative reverses a trend established four years ago when state officials began diverting di·vert v. di·vert·ed, di·vert·ing, di·verts v.tr. 1. To turn aside from a course or direction: Traffic was diverted around the scene of the accident. 2. millions of dollars in local property taxes to state coffers. ``It's caused a great deal of turmoil,'' said county Supervisor Maggie Kildee. ``The diversion of property taxes has hurt the county's families, our quality of life and our economy.'' More than $302 million in Ventura County property taxes have been diverted di·vert v. di·vert·ed, di·vert·ing, di·verts v.tr. 1. To turn aside from a course or direction: Traffic was diverted around the scene of the accident. 2. to state government since 1992, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Penny Bohannon, deputy administrative officer for government affairs. The result has been reduced budgets for programs such as parks, libraries and police, she said. The Board of Supervisors passed a resolution last week in support of Proposition 217. Ventura County government would gain an additional $3.9 million a year in taxes if the proposition passes. ``It's a start,'' Bohannon said. ``It's not going to solve our problems, but it would help.'' The proposition would permanently establish a 5-year-old rate now paid by the wealthiest taxpayers. Revenue raised would go directly to local governments and school districts. Families with taxable incomes Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. above $230,000 or individuals earning more than $115,000 a year would continue to pay a 10 percent tax set to expire this year. Families earning more than $460,000 or individuals making $230,000 or more a year would fall into the 11 percent bracket. Some local business leaders say the tax hurts thousands of small business owners who file individual tax returns. Calling the measure ``a job killer,'' Nancy Bender, president of the Simi Valley Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. Chamber of Commerce, said that keeping the top income tax bracket Noun 1. income tax bracket - a category of taxpayers based on the amount of their income income bracket, tax bracket bracket - a category falling within certain defined limits at the high rate would place an unfair burden on employers. ``Saddling job creators with higher taxes doesn't make sense,'' Bender said. ``We're trying to attract good high-paying jobs to California. We can't attract the types of businesses we want with that kind of tax rate.'' Ventura County supervisors were not unanimous in supporting the tax. Supervisor Judy Mikels thinks the initiative unfairly targets the wealthiest taxpayers. ``It's an unequal tax that acts as a disincentive dis·in·cen·tive n. Something that prevents or discourages action; a deterrent. disincentive Noun something that discourages someone from behaving or acting in a particular way Noun 1. to the very thing this country was founded on - the freedom to succeed,'' Mikels said. But Bohannon points to the fact that the economy has continued to grow over the past two years with the tax in place. |
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