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L.A.’s ‘Mansion Tax’ Drives up to 50% Drop in Commercial Sales: UCLA

Summary by Commercial Observer
Los Angeles’ controversial “mansion tax” has generated far less revenue than predicted largely because it’s also driving a serious decline in sales volume across the city, according to a new study by the University of California Los Angeles. Measure ULA — a tax on high-dollar sales of all property types in the city enacted two years ago this month — has driven up to 50 percent decline in transactions above $5 million since the measure went into …
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Commercial ObserverCommercial Observer

L.A.’s ‘Mansion Tax’ Drives up to 50% Drop in Commercial Sales: UCLA

Los Angeles’ controversial “mansion tax” has generated far less revenue than predicted largely because it’s also driving a serious decline in sales volume across the city, according to a new study by the University of California Los Angeles. Measure ULA — a tax on high-dollar sales of all property types in the city enacted two years ago this month — has driven up to 50 percent decline in transactions above $5 million since the measure went into …

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ourweekly.comourweekly.com

ULA’s impact on the Los Angeles community

In the first two years since funding began in April 2023, United to House LA (ULA) has changed thousands of lives by building homes and helping to keep seniors, people with disabilities, and other Angelenos housed. As of January, ULA has kept 11,000 Angelenos in their homes through rental assistance, funded the start of construction on 795 affordable homes, and created 10,000 union construction jobs.Over 100,000 people have benefitted from ULA-f…

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ourweekly.com broke the news in on Thursday, April 3, 2025.
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