This time, it hinges on Los Angeles' new mansion tax, which impacts homes sold for over $5 million. She added of the city's mansion tax, "This is a very reasonable and equitable way to generate some resources that can support those needs." Unintended consequences of a mansion taxColloquially known as a mansion tax, United to House LA (Measure ULA) passed in November 2022 with 58% support. Shane Phillips, a UCLA housing researcher whose work helped inspire LA's mansion tax, is worried about the mansion tax depressing new development, particularly of multi-family buildings. Phillips argued that if the law is tweaked to exempt first-time sales, the mansion tax "will unquestionably do more good than harm."

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Persons: —, Mary Fitzgerald, Nicole Young, Jason Oppenheim, It's, Oppenheim, — aren't, Mari Castaldi, Karen Bass, Shane Phillips, Phillips, that's, Billy Rose, you'll, Rose, doesn't, Castaldi, Phillips isn't Organizations: Service, Netflix, Oppenheim Group, realtors, California Association of Realtors, Budget, House, LA Times, UCLA, Agency Locations: Angeles, Los Angeles, New York, Washington, Massachusetts, Chicago, Santa Fe, California, LA