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

A vote on Tuesday could introduce a new transaction tax on sales of homes and property above $5mn in La La Land.

58% of Los Angeles residents voted for a new levy on property transactions above $5mn.

"Switzerland’s wealth tax offers a rare real-world example of how a levy on assets can work, just as such ideas gain traction elsewhere in the wake of the coronavirus crisis," writes Bloomberg journalist…