Paramount, California Development News

Paramount Considers Parcel Tax to Address Projected $27.7 Million Deficit

The city of Paramount is facing a projected 10-year cumulative deficit of $27.7 million due to rising costs of services, infrastructure maintenance, and public safety, coupled with stagnant revenue streams. To address this, the city council is considering placing a property parcel tax measure on the November 2026 ballot. This tax would be levied on commercial and industrial properties, generating an estimated $4 million annually to be invested in roads, infrastructure, public safety, environmental compliance, and business reinvestment. The tax would be phased in over three years, with built-in consumer price index caps, and overseen by an independent committee. Neighboring cities like Santa Fe Springs and Vernon have implemented similar parcel taxes to fund infrastructure and public safety. The city has already implemented operational cuts and service reductions to mitigate the financial challenges.