SLO looks at raising property taxes to fix budget deficit

San Luis Obispo City staff is recommending that city officials agree to raise property taxes, promote marijuana businesses, reduce services and increase employee benefit contributions in an attempt to address a $8.9 million budget deficit.

Amid declining interest rates, SLO’s unfunded pension liabilities hit $148 million in June 2016. As pension costs have shot up, so has the city’s budget expenditures. Read More …

SLO County at risk of losing $85 million Diablo Canyon settlement

An administrative law judge for the California Public Utilities Commission (CPUC) issued a proposed ruling against the settlement agreement between PG&E and local government agencies over the expected closure of Diablo Canyon. The agreement that is now at risk of being overturned calls for PG&E to dole out $85 million as compensation for lost tax revenue because of the closure of the power plant. Read More …