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  | | News Alert | |
| |  | | | A new analysis from UCLA's Lewis Center for Regional Policy Studies contends that the so-called mansion tax has slowed down sales, especially for commercial properties.
Measure ULA took effect in April 2023, bringing a 4% charge to all L.A. property sales above $5 million and a 5.5% charge to sales above $10 million. Two years in, the transfer tax has raised more than $632 million for affordable housing and homelessness prevention initiatives.
But the report suggests the tax has chilled a once-robust market in L.A., while sales above $5 million have remained steady in other markets across L.A. County not affected by the tax. | | Read more | | | |
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