Oxnard—Part three of the City’s balanced budget story continues with its progress through recovery. From 2019 to 2022, it faced a $9.2 million budget deficit.
Measure O ends in early 2029, and Assistant City Manager Eric Sonstegard said the voters approved Measure O, a half-cent sales tax, in 2008.
“Voters approved Measure O, a half-cent sales tax that brought about incredible improvements and restorations within the City over the last 20 years,” he said. “That is due to sunset in 2029, it was a 20-year sales tax, it’s something that sets the dimensions for decisions to be made, even though it’s 3-4 years away.”
As a City, he said, when they talk about financial stability, they need to set that foundation for decisions to be made right now.
The City is proposing a conservative budget with a 3.3 percent increase in revenue and expenses, and Sonstegard said it is expected to be approximately $8 million.
Property tax is about one-third of our income, and sales tax (Bradley Burns) and Measure E are just under 50 percent,” he said. “Other revenue sources, Business License Taxes, and Transient Occupancy Taxes, are charged to guests visiting the City.”
He said that the…
