What is the ULA Mansion Tax to Fund Homeless in Los Angeles

Prime Time With Mendel in this episode we discuss
The LA mansion tax that goes it to law April 1
Keith Fromm one of the lawyers fighting the ULA initiative Explains why he Believes this law is not fare and balanced and might not achieve the desired goal to help the homeless in LA.
Proposition ULA was approved November 8th 2022 and goes it to law April 1 2023
1. Enact a 4% tax on properties sold or transferred for more than $5 million and a 5.5% tax on properties sold or transferred for more than $10 million;
2. Establish the House LA Fund within the city treasury to collect additional tax revenue; and
3. Allocate revenue to projects that address housing availability at certain income thresholds and homelessness prevention.
#mansiontax #LAtax
Enjoy