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.
Can LA’s ‘Mansion Tax’ Unlock Affordable Housing Across California?
- by: Kriston Capps
- 11-10-2022
- Source:
Bloomberg
- 07/20/2023
white and blue concrete building by John Fornander is licensed under Unsplash unsplash.com
white and blue concrete building by John Fornander is licensed under Unsplash unsplash.com
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