WEST HOLLYWOOD, Calif., Oct. 25 /PRNewswire/ -- For decades, the citizens of West Hollywood have been forced to live with billboards, tall walls, large screen video displays and other off-site signs, while billboard companies have received over a billion dollars in advertising revenues and West Hollywood has become the sign capitol of California.
Tens of millions of dollars in advertising revenues are received each year by billboard companies from billboards, large screen video displays, tall walls, supergraphics and other off-site signs. Yet, under current law, the billboard companies pay virtually no taxes to West Hollywood for the privilege of being allowed to advertise in the city.
This initiative, sponsored by Sunset Strip, would correct this inequity and provide over $4 million of annual revenue for the City to provide added municipal services to the residents of West Hollywood. A 7% excise tax on advertising revenues received from the lease of billboards, video signs, tall walls or other off site signs in West Hollywood would be paid to the City and deposited into the General Fund for expanding City services.
Another Tax Billboard Initiative is being sent to the Los Angeles City Council for a vote that will place it on the March, 2011 ballot. The billboard tax proposed in Los Angeles is 12% and will also generate millions of needed revenue for the City of Los Angeles. If approved, the billboard tax would generate over $24 million annually for the city's general fund, which pays for basic services such as public safety, parks and libraries. Both Tax Billboard Initiatives, said City officials, have modeled the ballot proposal on a billboard tax approved in 2005 in Philadelphia, which has already survived a court challenge by the major billboard companies.
West Hollywood Councilman Jeffrey Prang, who opposes the Tax on Billboards in West Hollywood, has been fighting this Tax on Billboards which will generate millions in new revenue for the people and city services in West Hollywood. Afriat Consulting Group, Councilman Jeffery Prang's political consultant and political fund raising firm also represents and lobby's for major billboard companies in West Hollywood. Councilman Jeffery Prang has for years taken political contributions from major billboard companies and supergraphic interests in West Hollywood.
By opposing the Tax on Billboards in West Hollywood, Councilman Jeffery Prang is allowing the billboard & supergraphic companies a free ride to make millions in West Hollywood and denying the citizens and city over $4 million dollars annually for this privilege.
Over 10% of the voters in West Hollywood signed the petition for taxing billboards and many voters have questioned why Councilman Jeff Prang is siding with the billboard companies and not the citizens of West Hollywood.
SOURCE Sunset Strip Inc.