Malibu council to weigh disaster tax district for fire zone Play

Another policy decision comes before the City Council Monday night: should the City of Malibu set up a special disaster tax district in the Malibu fire zone? The idea went over like a lead balloon last week at a subcommittee meeting.

The idea is to set up a disaster district to capture property tax revenue as it increases due to increased valuation of homes after the disaster.

We told you last week that two City Council members sitting on the budget subcommittee thought it was a terrible idea to mortgage this money. But now comes testimony from a tax expert who says Malibu may be walking away from money on the table and rejecting money that's going to end up going to the City of Los Angeles by rejecting the tax district out of hand.

Both L.A. County and the City of L.A. are doing the same trick. If Malibu doesn't do it, we're going to lose our share of the money, goes the argument.

The whole thing goes before the Malibu City Council Monday night.