Opponents of Los Angeles’ “mansion tax” argued that the measure is unlawful according to the California constitution and the city’s own charter to a California appeals court on Thursday, but one judge on the panel appeared unimpressed.
The case challenges the validity of Measure ULA, a Los Angeles ballot measure voters approved in 2022 that imposes property transfer taxes of 4% on property sales and transfers of over $5 million and 5.5% on transfers of $10 million or more, which has been widely criticized by the real estate industry.
Judge Armen Tamzarian said at the outset his tentative ruling is ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.