Coalition led by Miguel Santana recommends “mansion tax” tune-up

If Los Angeles heavyweight Miguel Santana has his way, he’d rob support for a statewide initiative to scuttle the city’s so-called mansion tax by drawing backers for a superior fix. The CEO of L.A.-based California Community Foundation now leads a group that aims to tune up and thus win support for the transfer tax known as Measure ULA, while flattening the tires of the statewide tax-limiting initiative that would drive it into a ditch, Politico reported. ULA adds a 4 percent property transfer tax on all real estate that sells for more than $5.3 million and a 5.5 percent tax […]This article originally appeared on The Real Deal. Click here to read the full story.