For hotels, there are currently approximately 98,000 hotel rooms just in the Los Angeles area, with an additional 30,000 hotel rooms in San Francisco. It my estimation, there has to be at a minimum of 160,000 hotel rooms statewide in California.
There are approximately 19,000 AirBnB rentals in Los Angeles, and an estimated “short-term rentals” in the State of California 50,000.
Right now, all transient lodging is taxed at the Local Level.
I would propose a 5% State Transient Lodging Sales Tax Statewide that will go On Top of the already in place local Transient Lodging Taxes.
With an average of $185 per night overnight fee for AirBnB’s and Hotels in the State of California, and going with an average 60% occupancy rate state wide: $350M USD in Transient Lodging Taxes annually.
NOTE: This blog is only for conservational ideas and I have ‘zero point zero’ percent interest in running for any political offices.
The Score so far on State Budget:
Plan One: Eliminate California State Income Tax
· Resulted in $90 Billion Deficit
Plan Two: Decriminalize Prostitution in California
· Resulted in $1 Billion in State Revenues
· Still have a $89 Billion Deficit, but we have no State Income Taxes and we have Decriminalized Prostitution in California.
Plan Three: California Mortgage Tax
· Resulted in $7 Billion in State Revenues
· Still have a $82 Budget Deficit.
Plan Four: California Real Estate Transfer Tax
· Resulted in $30 Billion in State Revenues
· Still have a $52 Billion Budget Deficit.
Plan Five: Ending the California Homelessness Epidemic
· Resulted in increased state spending, followed by State Budget Savings over many years. Total costs, I could not even come up with a guess, but would try to work within the current budget by utilizing current state land owned, governmental facilities, and current government programs. I am calling it “Even Steven”
· Still have a $52 Billion Budget Deficit – but we have a No Income Tax State, Prostitution is Legal, the Wealthy are Paying their Fair Share, and the streets are less cluttered with homeless.
Plan Six: Ending the State Corporate Income Tax:
· Resulted in a loss of approximately Eleven Billion USD in Annualized Tax Revenues.
· $63 Billion USD Deficit
Plan Seven: Increasing the Gasoline Tax.
· Resulting in an additional $10 Billion USD in Tax Revenues.
· $53 Billion USD Tax Deficit. But…… no State Income Taxes, no State Corporate Taxes, Homelessness is under control and we have legal Prostitution.
Plan Eight: California Transient Lodging Tax
· Resulting in $337,625,000 in Tax Revenues
· Still have a $52.5 Billion USD Tax Deficit.
About Steve Muehler Portfolio of Companies (Steve Muehler Holdings, LLC):
Steve Muehler – Paralegal: www.SteveMuehlerParalegal.com
Steve Muehler – Investment Banking: www.SteveMuehlerSecurities.com
Steve Muehler – Annuities: www.SteveMuehlerAnnuities.com
Steve Muehler – Debt Capital Markets: www.SteveMuehlerDebtCapital.com
Steve Muehler – Equity Capital Markets: www.SteveMuehlerEquityCapital.com
Steve Muehler – Real Estate Loans: www.SteveMuehlerLoans.com
Steve Muehler – Insurance: www.SteveMuehlerInsurance.com
Steve Muehler – Commercial Insurance: www.SteveMuehlerCommercialInsurance.com
Steve Muehler – EquityLock Residential: www.EquityLockResidential.com
Steve Muehler – EquityLock Commercial: www.EquityLockCommercial.com
Steve Muehler – Bail Bonds / Immigration Bonds: www.SteveMuehlerBail.com
Additional Online Resources:
About Mr. Steve Muehler, Founder & Senior Managing Member:
Personal Site: http://www.SteveMuehler.com
Personal Site: www.StevenMuehler.com