LA residents to vote on ‘mansion tax’ to tackle housing inequality
A vote on Tuesday could introduce a new transaction tax on sales of homes and property above $5mn in La La Land.
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LA to implement ‘mansion tax’ of up to 5.5%
58% of Los Angeles residents voted for a new levy on property transactions above $5mn.
Los Angeles Times: L.A.’s rich are already scheming ways to avoid new ‘mansion tax’
'Rich people are very clever,' says a real estate broker in California. 'They know how to manage cash, and they have time to look for loopholes.'
Los Angeles Times: The year of the ‘mansion tax’
12 months on, Measure ULA 'has either been a godsend or an absolute disaster, depending on who you ask,' says the LA Times.
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