KATHLEEN BROWN COMMENTS ON L.A. COUNTY ASSESSOR'S
REPORT ON CONTINUING SLUGGISH ECONOMY
FOR IMMEDIATE RELEASE
Contact: John Whitehurst
(310) 207-7600
August 11, 1994Los Angeles -- State Treasurer Kathleen Brown today said a report released by Los Angeles County Assessor Kenneth Hahn "is further evidence that Los Angeles remains mired in recession."
Hahn said a "number of conditions contributed to the low rate of growth" of 1.3 percent in the taxable roll. He cited "lower incremental transfer values" as a factor and pointed out that a surprising 16 percent of all reappraisable transfers were foreclosures -- up 55 percent from the previous year.
"The familes of Los Angeles continue to lose their jobs, their homes and their dreams," said Brown.
"We won't get our economy moving with election-year rhetoric -- but only with a real statewide economic strategy," she continued.
"California needs a leader who understands the needs of California families and will work to restore the California promise."
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