LA leaders decide city needs a new committee to explore \u2018mansion tax\u2019 reforms<\/p>\n
The Los Angeles City Council voted unanimously Wednesday to set up a new committee tasked with exploring reforms to the city\u2019s embattled Measure ULA, known to many as the \u201cmansion tax.\u201d<\/p>\n
Topline: <\/p>\n
The Los Angeles City Council voted unanimously Wednesday to set up a new committee tasked with exploring reforms to the city\u2019s embattled Measure ULA, known to many as the \u201cmansion tax.\u201d<\/a><\/p>\n Tax basics: Approved by nearly 58% of city voters in 2022, Measure ULA raises funds for tenant aid and affordable housing construction by taxing real estate selling for $5.3 million or more. The tax also covers apartment buildings. Various studies have found<\/a> this has led to a slowdown in housing development activity.<\/p>\n The backstory: Previous efforts at the state<\/a> and local level<\/a> to cancel or lower the tax on new apartments have fizzled. But L.A. City Council President Marqueece Harris-Dawson \u2014 who put forward the motion to establish a three-member Ad Hoc Committee on Measure ULA \u2014 said during Wednesday\u2019s meeting that reforms still need consideration. \u201cThere are things in ULA that I frankly think were not in the spirit of the voters, like taxing the building of affordable housing,\u201d he said.<\/p>\n Keep up with LAist.<\/p>\n If you’re enjoying this article, you’ll love our daily newsletter, The LA Report. Each weekday, catch up on the 5 most pressing stories to start your morning in 3 minutes or less. <\/p>\n What\u2019s next: A spokesperson for Harris-Dawson said the members of the committee will be picked and announced in the coming weeks. The committee will be tasked with putting forward recommendations about potential reforms by April 30. Proposals could be sent back to voters for approval on the November ballot. Meanwhile, a competing campaign<\/a> has turned in signatures for another potential November ballot measure seeking to throw out Measure ULA and similar taxes across the state.<\/p>\n","protected":false},"excerpt":{"rendered":"LA leaders decide city needs a new committee to explore \u2018mansion tax\u2019 reforms The Los Angeles City Council…\n","protected":false},"author":2,"featured_media":153107,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[98974,98975,48,52,51,47,50,49,28515,74685,3719],"class_list":["post-216122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-los-angeles","tag-ad-hoc-committee-on-measure-ula","tag-affordable-housing-in-l-a","tag-la","tag-la-headlines","tag-la-news","tag-los-angeles","tag-los-angeles-headlines","tag-los-angeles-news","tag-mansion-tax","tag-marqueece-harris-dawson","tag-measure-ula"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/216122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=216122"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/216122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/153107"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=216122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=216122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=216122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}