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Rich Little Bradbury Threatening Insolvency, Disincorporation

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Tomorrow, the residents of very wealthy little Bradbury (where a house with a cross-shaped pool and underground shooting range is currently listed at $78.8 million) will vote on a new utility users tax that "could be set as high as 8.75 percent," reports the San Gabriel Valley Tribune. And the thing is, "If the tax doesn't pass, officials say the city could deplete its reserves within three years, possibly winding up as an unincorporated county area," although that's "unlikely to happen." Bradbury only has about 1,000 residents, most of whom live in fancy houses behind locked gates (the mayor tells the paper "It's a diverse community. We have everything from middle-class to extremely wealthy individuals."), but no commercial or industrial business. Meanwhile, slowdowns in home sales and new construction have cut into city revenues over the past five years for an overall decline of about 30% (the annual budget is only about $700k). The city council will probably set the tax--which would apply to phone, video, electricity, gas, and trash--lower than the 8.75% rate and "Residents appear willing to reluctantly accept the tax as necessary in difficult times."
· Supporters of Bradbury utility tax say it will keep tiny city solvent [SGVT]