L.A.’s Rich Already Scheming to Avoid New “Mansion Tax” By Lloyd Segal, President of Los Angeles County Real Estate Investors Association
Just weeks after Los Angeles voters backed a new measure that puts a one-time transfer tax on property sales above $5 million (to generate money for affordable housing and homelessness prevention), the city’s affluent homeowners are already exploring potential ways of avoiding the tax. Known as Measure ULA (for “United to House LA”) the ordinance…
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