California Lawmakers Table Restrictions on LA’s Mansion Tax

The California legislature has tabled a bill that would have restricted the scope of Los Angeles’ tax on property sales over $5 million.

The measure, S.B. 423, would’ve amended parts of Measure ULA, approved by Los Angeles voters in 2022, which included provisions known as the “mansion tax.” The tax became controversial, and the bill sought to rein in certain portions that have been criticized for suppressing housing development in the city.

Los Angeles is also fighting litigation from taxpayer groups that argue the city charter doesn’t allow voters to approve such a levy through a ballot measure.

The ...