Can LA’s ‘Mansion Tax’ Unlock Affordable Housing Across California?

  • by:
  • Source: Bloomberg
  • 07/20/2023
On Tuesday, thousands of Los Angeles voters pulled the lever for Measure ULA, a ballot initiative that aims to fund affordable housing and tenant protections by applying a levy on property sales of more than $5 million. That’s just the start of what this measure can do.

Backed by the advocacy coalition United to House LA and widely known as the “mansion tax,” the measure is ahead by 8 points as of Nov. 10, but the final results may not be known for days.

If it passes, the revenue it generates promises to do what previous legislation and a parade of LA politicians have so far failed to accomplish: speed new construction and deliver a way out of the city’s spiraling homelessness crisis. 
white and blue concrete building by John Fornander is licensed under Unsplash

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