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Articles for Measure Ula, search results for tax

L.A. City Council approves ‘mansion tax’ spending plan and program guidelines
1 month ago

L.A. City Council approves ‘mansion tax’ spending plan and program guidelines

LA Times  

DJ Yoon of Koreatown Immigrants Workers Alliance holds a sign that says “Measure ULA is for the protection of tenants” in Spanish during a news conference at City Hall on Tuesday. The Los Angeles City Council on Tuesday voted to approve an ambitious set of program guidelines for spending hundreds of millions of dollars collected under the city’s Measure ULA …

Housing City Million Ula Measure Ula
‘Why us?’: Housing nonprofits are paying millions in ‘mansion tax’
1 month, 4 weeks ago

‘Why us?’: Housing nonprofits are paying millions in ‘mansion tax’

LA Times  

The Motion Picture & Television Fund, a nonprofit that provides housing for people in the movie and TV industries, was surprised last year with a $1.65-million “mansion tax” bill. Their leaders say the tax has hampered their ability to accomplish one of Measure ULA’s primary goals: provide affordable housing. Since MPTF’s mission seemed to align with Measure ULA’s mission of …

Organization Tax Million Measure Mansion Affordable Ula
Which L.A. neighborhoods have paid the most ‘mansion tax’?
2 months, 1 week ago

Which L.A. neighborhoods have paid the most ‘mansion tax’?

LA Times  

Measure ULA has raised more than $439 million since April 2023. Los Angeles is roughly a year and a half into its so-called “mansion tax,” levying charges on high-end property sales to raise money for affordable housing and homelessness initiatives. Unsurprisingly, the 5th City Council District — which holds neighborhoods such as Bel-Air and Beverly Crest — raised the most …

Properties Tax Data Sales Million Mansion Ula
L.A.’s ‘mansion tax’ has collected $375 million. Where is the money going?
4 months ago

L.A.’s ‘mansion tax’ has collected $375 million. Where is the money going?

LA Times  

Nearly two years ago, voters in Los Angeles approved Measure ULA, increasing taxes on the sale of multimillion-dollar properties with the aim of raising hundreds of millions of dollars each year to help address the city’s housing crisis. The amount is short of the $600 million to $1.1 billion per year that backers expected but still enough to provide major …

Housing Tax Million Measure Approved Ula Programs
The year of the ‘mansion tax’: Hundreds of millions raised, but a chill to L.A.’s luxury market
9 months, 1 week ago

The year of the ‘mansion tax’: Hundreds of millions raised, but a chill to L.A.’s luxury market

LA Times  

L.A.’s luxury residential market hasn’t recovered in the year since the “mansion tax” took effect. The tax brings a 4% charge to all property sales above $5 million and a 5.5% charge to all sales above $10 million in L.A. One year ago, Los Angeles’ “mansion tax” took effect. Critics, including many L.A. real estate professionals, claim the tax has …

Luxury Housing Market Sales Million Measure Real
‘Mansion tax’ prevails in court as judge dismisses lawsuit challenging Measure ULA
1 year, 2 months ago

‘Mansion tax’ prevails in court as judge dismisses lawsuit challenging Measure ULA

LA Times  

An L.A. County judge dismissed a lawsuit challenging L.A.’s “mansion tax” on Tuesday, marking the end of a months-long legal challenge from the luxury real estate community that looked to declare the measure unconstitutional. The transfer tax known as Measure ULA was passed in November and took effect April 1, bringing a 4% charge on all residential and commercial real …

Housing Tax Court City Judge Million Real
As challenges loom, L.A. City Council approves $150 million in ‘mansion tax’ spending
1 year, 4 months ago

As challenges loom, L.A. City Council approves $150 million in ‘mansion tax’ spending

LA Times  

Passed by voters in November, Measure ULA places a transfer tax on property sales above $5 million in L.A. The Los Angeles City Council passed a $150-million spending plan for funds raised by Measure ULA on Tuesday, marking the first time funds will be specifically allocated since Angelenos passed the tax in November. Dubbed a ‘mansion tax,’ Measure ULA took …

Tax City Million Measure Real Ula 150
Celebs dodged millions in L.A.’s ‘mansion tax.’ Meet the industry guarding their wealth
1 year, 7 months ago

Celebs dodged millions in L.A.’s ‘mansion tax.’ Meet the industry guarding their wealth

LA Times  

Before Measure ULA took effect in April, some wealthy residents scrambled to avoid paying the new “mansion tax” that would fund affordable housing and homelessness prevention. “The thing that makes rich people different from you and I is they have a whole industry focused on helping them minimize their taxes,” said Chuck Collins, senior scholar at the Institute for Policy …

Housing Tax Wealth Taxes Hollywood Collins Million
Hollywood stars scramble to sell homes ahead of Los Angeles’ new ‘mansion’ tax
1 year, 9 months ago

Hollywood stars scramble to sell homes ahead of Los Angeles’ new ‘mansion’ tax

The Independent  

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Tax Los Angeles Million Our Weekly Guide Ula Measure Ula Stars Scramble
Free McLaren or Bentley: Sellers get creative to close deals before ‘mansion tax’ kicks in
1 year, 9 months ago

Free McLaren or Bentley: Sellers get creative to close deals before ‘mansion tax’ kicks in

LA Times  

This $16.5-million mansion comes with any of the cars in the photo — as long as the buyer can close the deal before April 1. It’s one of many time-sensitive deals available right now in L.A.’s luxury real estate market, which has been scrambling since voters passed Measure ULA in November. If a buyer pays full price for this hillside …

Market Tax Price Million Measure Close Mclaren
Editorial: Get the fight over the L.A. mansion tax settled fast. We need the money
2 years ago

Editorial: Get the fight over the L.A. mansion tax settled fast. We need the money

LA Times  

Los Angeles voters backed Measure ULA, a tax on high-value real estate transaction, to pay for affordable housing and homelessness prevention. Measure ULA affects only a tiny percentage of property sellers but could provide $600 million or more a year that could help solve the housing and homelessness crisis in the city of Los Angeles. The measure will increase the …

Housing Constitution Tax Transfer City Homelessness State
Howard Jarvis group, apartment owners sue to block L.A.’s new housing tax
2 years ago

Howard Jarvis group, apartment owners sue to block L.A.’s new housing tax

LA Times  

A lawsuit has been filed to block Measure ULA, which voters approved in November. A coalition of real estate and antitax groups is seeking to prevent the city of Los Angeles from implementing a recently passed tax on the sales of properties over $5 million. The groups’ attorneys argue that “great and irreparable harm will result to plaintiffs, and to …

Housing Tax City Los Angeles Los Angeles Voters
L.A.’s rich are already scheming ways to avoid new ‘mansion tax’
2 years ago

L.A.’s rich are already scheming ways to avoid new ‘mansion tax’

LA Times  

L.A.’s new transfer tax will bring in hundreds of millions of dollars for affordable housing and homelessness prevention efforts. Just weeks after Los Angeles voters backed a new measure that puts a one-time transfer tax on property sales above $5 million to generate money for affordable housing and homelessness prevention, the city’s affluent homeowners are exploring potential ways of avoiding …

Housing Tax Property Homeowners Transfer Sales Phillips
Column: Fed up with failed leadership, L.A. voters backed mansion tax to help the homeless. Will it work?
2 years, 1 month ago

Column: Fed up with failed leadership, L.A. voters backed mansion tax to help the homeless. Will it work?

LA Times  

Residents of downtown’s L.A. Grand hotel under the Project Roomkey program protest the city’s plan to evict them early next year. “I don’t think it’s overstating it at all to call it a game changer,” said Ann Sewill, general manager of the city’s Housing Department. “Compared to home-care providers, they’re not faring much better, and the cost of living for …

Housing Tax Work City Homeless Los Angeles Measure