OPINION: ENRICHING YOUR CITY OF CERRITOS

Enrichment makes something more meaningful, substantial, or rewarding. Enrichment improves something.

The tax debate rages on here in Cerritos.

Some are all for the increase, others are against it and want the city to cut expenses.

Allow me to make an argument, and, just as in economics, ceteris parabis… with other conditions remaining the same.

Say you spend $1,500 a month, or $18,000 a year as a Cerritos resident in Cerritos.

Some will spend more, others will spend less.

I am assuming residents will not to leave the city to spend money on grocery items, hardware, beauty supplies, fast food, dining, etc., certainly not a bad assumption.

Cerritos is proposing a 1% sales tax increase. If you spend $18,000 in Cerritos your additional tax burden would be $180 per year, which works out to be $15 per month.

Once again I am assuming you will not leave the City… because why would you?

The tax works out to be $1 per $100 spent.

If you drove anywhere else to spend that $100, you would burn more than $1 in gas so why not stay in Cerritos?

If you spend $1,000 per month your additional tax burden would be $120 per year, or $10 per month.

Now I hear the residents who live on fixed income and I hear the residents that want the City to cut expenses.

Think about enrichment.

Even if officials do balance the budget, cutting the Sheriff’s Station, cutting employees, to erase the $6 million deficit, there is no additional revenue coming in, so the City remains the same position.

That is, a balanced budget but no money to spend on city services.

Critical infrastructure projects will be delayed or never materialize, trees take longer to get cut, landscapes go untrimmed for a few more weeks, roads don’t get fixed.

In short, the City will look less enjoyable and livable.

Cerritos has seen tremendous growth in property values and newly added big box businesses and restaurants.

The Plaza on 183rd is amazing compared to what it looked like a year ago.

No one wants to leave Cerritos to shop elsewhere…once again…why would you?

Now that the redevelopment funds are gone, through no fault of anyone at the City, the City needs help.

Specifically – the City that has been responsible for the tremendous growth in your property values – needs your help.

So instead of thinking of the increase as a tax, think of it as pay-it-forward donation, a donation that will enrich the City and make everyone want to live and shop in Cerritos now and in the future.

If passed, the enrichment tax will pump an additional $20 million, or more, into City coffers.

Critical infrastructure projects will get completed, trees will be trimmed, roads will get fixed, and most importantly, the Cerritos Sherriff’s Station remains intact.

Then the City can take a good hard look at the CCPA.

Now, instead of property values remaining flat, property values will begin to rise probably above the median in LA County.

All for $15 per month, on the high side, $10 per month on the low side; 50 cents per day and 30 cents per day respectively.

The math bears out why Cerritans should pass the enrichment tax.

The average home value in Cerritos is $667,000 based on past two months sales figures.

That is an increase of 2% over last year, or over $13,000 in appreciation, and almost $100,000 more than LA County values.

That is the City giving back to the residents.

Isn’t it worth $15/$10 per month to keep that appreciation rate of at least 2%? I would assert it is worth far more.

That is quite a shiny return on your $15 investment, or ROI as it is more formally known.

$15 per month guarantees an investment return of $13,000 per year…

It is like the La Palma resident said in Larry Caballero’s front page article this week, “My heart is with the City and the police department, and I would be willing to pay two cents or five cents more if it meant that we keep the quality of life we enjoy now.”

Enrichment makes something more meaningful, substantial, or rewarding. Enrichment improves something.