{"id":1134,"date":"2026-06-17T23:00:14","date_gmt":"2026-06-17T23:00:14","guid":{"rendered":"https:\/\/california-relocation-journal.com\/?p=1134"},"modified":"2026-06-17T23:00:14","modified_gmt":"2026-06-17T23:00:14","slug":"effort-to-exempt-new-apartment-buildings-in-l-a-from-mansion-tax-moves-forward","status":"publish","type":"post","link":"https:\/\/california-relocation-journal.com\/?p=1134","title":{"rendered":"Effort to exempt new apartment buildings in L.A. from \u2018mansion tax\u2019 moves forward"},"content":{"rendered":"
\n

An effort to exempt new apartment buildings in Los Angeles from the so-called mansion tax moved forward Wednesday, amid concerns that the tax is suppressing housing construction and making the affordability crisis worse. <\/p>\n

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In a 9 to 5 vote, the City Council directed the City Attorney to draft a ballot measure that would ask voters to change Measure ULA, which funds subsidized housing construction and homeless prevention efforts by taxing nearly all property sales over $5.3 million.<\/p>\n

Once the proposal is drafted, it must come back to council for a final approval to make it onto the November ballot.<\/p>\n

Wednesday was the deadline for the council to take the vote and stay on track to make the ballot this fall, said Councilmember Katy Yaroslavsky, who introduced the proposal along with Councilmember Tim McOsker. <\/p>\n

\u201cWe should protect what is working and fix what\u2019s not,\u201d Yaroslavsky told colleagues before the vote. \u201cIf we fail to act today, that door closes.\u201d<\/p>\n

The ULA tax, approved by voters in 2022, is known as the mansion tax but applies a 4% tax to nearly all properties \u2014 whether they are mansions or not \u2014 if they sell for more than $5.3 million, increasing to 5.5% for sales at or above $10.6 million.<\/p>\n

Under the proposed ballot measure, the ULA tax wouldn\u2019t apply to multifamily buildings sold within 10 years of construction. There would also be some more technical changes put before voters, including to allow ULA money to be spent on temporary housing for homeless people.<\/p>\n

Since ULA passed, apartment construction in Los Angeles has plummeted. Some studies have found that the additional tax on property sales has played a big role in the drop-off by adding extra costs for developers. <\/p>\n

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That\u2019s led to fears that the tax, in some ways, is making the affordability crisis worse by suppressing new supply.<\/p>\n

A coalition of business groups and pro-development activists have been pushing the council to amend ULA, in part hoping that the effort will blunt another possible measure on November\u2019s ballot that would cancel ULA and other similar taxes altogether.<\/p>\n

ULA supporters, however, have fought the exemption for new construction and say that other factors \u2014 like high interest rates \u2014 are the reasons for the multi-year construction drop-off. They also point to a surge in new building during the first three months of this year to argue that it\u2019s too early to know ULA\u2019s long-term impact.<\/p>\n

Also on Wednesday, the council, in a unanimous vote, directed the City Attorney to draft a separate ballot measure that would exempt homeowners impacted by the Palisades fire from paying the ULA tax for five years, retroactive to Jan. 7, 2025. <\/p>\n

\u201cULA has been an impediment to the Palisades recovery, leaving properties sitting empty and people mired in tax and regulatory hell,\u201d City Councilmember Traci Park, who represents Pacific Palisades, told colleagues before the vote. \u201cWe need to move forward with this exemption.\u201d<\/p>\n

Similar to the broader ULA changes, the Palisades changes must receive a second council approval to make the ballot.<\/p>\n

Read more Climate change is making once-rare coastal floods more likely, study says<\/a><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, the Los Angeles City Council directed the City Attorney to draft a ballot measure that would exempt new apartment buildings from the Measure ULA tax that funds affordable housing and homeless prevention efforts.<\/p>\n","protected":false},"author":1,"featured_media":1133,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nEffort to exempt new apartment buildings in L.A. from \u2018mansion tax\u2019 moves forward - California Relocation Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/california-relocation-journal.com\/?p=1134\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Effort to exempt new apartment buildings in L.A. from \u2018mansion tax\u2019 moves forward - 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