fromLos Angeles Times
1 day agoIn abrupt turnabout, Mayor Karen Bass withdraws her bill to overhaul L.A.'s mansion tax
Los Angeles Mayor Karen Bass' bid to rewrite the city's voter approved "mansion tax" fell apart on Thursday, with Bass and her allies pulling the state bill hours before its first critical vote. Bass had worked with Sacramento legislators to draft a last-minute overhaul of Measure ULA, a tax hike on L.A. property sales above $5.3 million, preparing a bill that would reduce taxes charged on the sale of recently built apartment buildings, shopping centers and warehouses.
Los Angeles