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Toluca Lake
Toluca Lake
California
1 review
5 out of 5 stars based on 1 ratings
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by Unknown author is licensed under Public domain
Toluca Lake is an affluent neighborhood in the city of Los Angeles located in the San Fernando Valley region of Los Angeles County, California, 12 miles (19 km) northwest of Downtown. The name is also given to a private natural lake fed by the Los Angeles River and maintained by neighboring property owners. The history of Toluca Lake can be traced to the days of the Tongva Indians, followed by Spanish colonization and Mexican independence. Toluca Lake was part of the early rancho system. The original Toluca Lake was divided, with the neighborhood being known as Forman Toluca Ranch. In 1923, investors bought and developed the land as "Toluca Lake Park". Like many City of Los Angeles neighborhoods, Toluca Lake has a central business district and mail can be addressed to either "Toluca Lake, CA 91602" or "Los Angeles, CA 91602." The neighborhood has had notable residents. Ronald and Nancy Reagan held their wedding reception in Toluca Lake. Comedian Bob Hope was a longtime resident of Toluca Lake. More recently, it has been the home of entertainers such as Miley Cyrus, Viola Davis, and Melissa McCarthy.

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Taxes

C

How did California earn the grade of C? We examined the state taxes based on how age friendly they are. California has a state sales tax of 7.25%. Of particular interest is that California does not have taxes on social security. There are no estate taxes. There are no taxes imposed on inheritance. California has an effective property tax rate of 0.79%. Weighing these taxes and other taxes most likely to impact the aging population is how California earned its state tax grade of C.

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