Real estate remained upbeat on a proposed ballot measure to amend the so-called mansion tax even as the Los Angeles City Council told one of its most prominent members to slow her rollback. A fiery debate ensued during Tuesday’s Los Angeles City Council meeting over the fast-tracking of a proposed 15-year carveout of the Measure United to House L.A. tax for new multifamily, commercial and mixed-use developments, in addition to an exemption for property owners impacted by a natural disaster. Currently, ULA applies a 4 percent property transfer tax on all real estate deals – commercial or single-family – starting […]
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