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The special tax under Measure ULA (“ULA Tax”) imposes an additional tax on top of the Base Tax. 3. Q: What is Measure ULA and how does it work? A: Measure ULA established the ULA Tax to fund affordable housing projects and provide resources to tenants at risk of homelessness.
The new FAQs go into more detail on the implementation of Measure ULA, but many issues remain unaddressed. Below are highlights of the new guidance. 1. Document recording. Most notably, the City of Los Angeles revised its previous FAQ addressing the City’s procedure for applying the Mansion Tax to documents received for recording.
16 gru 2023 · Measure ULA, the “Mansion Tax” or the “Homelessness and Housing Solutions Tax,” voted on the November 2022 ballot, aimed to raise taxes on property sales exceeding $5 million within the City of Los Angeles. Measure ULA was approved by voters and became a legally binding ordinance on April 1, 2023. [1]
6 lip 2023 · Although the Director of Finance has yet to issue formal rules and regulations, the City of Los Angeles Office of Finance has posted a Real Property Transfer Tax and Measure ULA FAQ page (click here) that is updated from time to time.
1 kwi 2024 · In November 2022, 58% of Angelenos voted to pass the United to House Los Angeles (ULA) ballot measure, commonly referred to as the “mansion tax,” to fund affordable housing. ULA is a Real Estate Transfer Tax (RETT) on high-dollar real estate transactions that would create a permanent and robust revenue source for programs to build ...
Measure ULA stipulates, however, that property transfers to nonprofits, community land trusts and housing cooperatives will be exempt from the additional tax. This is not the first time Los Angeles has sought tax revenue to help solve the homelessness crisis.
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