Real Estate News

L.A. Residents Face Significant Sewer Rate Hikes Over Four Years

Los Angeles residents and business owners may see their sewer bills more than double over the next four years due to proposed rate increases by the city’s sanitation bureau. The plan involves seven rate hikes between October 2024 and July 2028, starting with a 22% increase, followed by smaller increments. Currently, an average household pays $75.40 bi-monthly, which will rise to $155.48 by July 2028. Low-income households will continue to receive discounts.

Council member Katy Yaroslavsky noted that rate hikes were paused during the COVID-19 pandemic, but now substantial increases are necessary to update the city’s aging sewer infrastructure and meet bond obligations. After a contentious debate, the City Council voted 11-4 to proceed with the rate increase process, pending a final vote.

Katy_Young_Yaroslavsky,_2023

Katy Yaroslavsky 

Before finalizing, the city will notify property owners and hold a public hearing. If over 50% of property owners formally object, the hikes cannot proceed. The sanitation bureau will provide tools and forums for residents to understand and discuss the proposed changes.

The last rate increase occurred in 2012, with the final adjustment in 2020. The proposed hikes aim to address aging infrastructure, such as 90-year-old pipes and outdated treatment plants, requiring over $3 billion in capital projects over the next five years. Some, like budget advocate Jack Humphreville, argue for a smaller, one-time increase and a thorough review of the sanitation bureau’s operations.

Council member Monica Rodriguez suggested an independent evaluation of the proposed increases, but there are legal and timing concerns. Ultimately, the council authorized the city attorney to draft an ordinance and the sanitation bureau to notify ratepayers and prepare for a public hearing.

SOURCE: Daily News

 

Real Estate Blog

pre qual vs pre approve

What’s the difference between pre-qualification and pre-approval?

Both pre-qualification and pre-approval help you see what your mortgage could look like and estimate how much house you can afford, but they have some important differences.
Continue reading
Urban Evolution Thumbnail

Urban Evolution

One of the lasting impacts of the COVID-19 pandemic is that over 25% of households now have at least one person working remotely.
Continue reading
rental investments short vs long term

Rental Investments: Short-Term vs. Long-Term

If you're exploring the idea of investing in rental properties, understanding the difference between short-term and long-term rentals is a key starting point. Both paths offer unique opportunities and challenges depending on your investment goals and lifestyle. Let's start with some essential steps to consider before starting your investment journey. 
Continue reading
Hyde Report May 2024

HYDE REPORT MAY 2024

The Hyde Report features up to the minute real estate news & trends along with articles designed to help improve your real estate IQ. 
Continue reading

Local Market Reports

Whittier

Los Angeles

Orange County

I met Mr Hyde in 2017 while searching for someone to help my sister in law who was in a financially challenging position
I was referred to Lamont Hyde from a neighbor of mine who had used him to purchase her home a few years back. My mother had past away a few months
My wife & I never thought we could afford to own our home. We were currently living with my mother since being married 8 years ago.
Lamont Hyde Broker / Owner of THG Realty & Loans

Connect With Me


Compare listings

Compare