LA City Council forms ad hoc committee to consider changes on Measure ULA

Los Angeles officials are prepared to make changes to the city’s so-called mansion tax as it launches a review that could reshape one of the region’s most controversial real estate policies. On Wednesday, the Los Angeles City Council unanimously approved a motion to create a three-member ad hoc committee to examine and recommend changes to Measure ULA, the 2022 voter-approved transfer tax on property sales above $5.3 million, My News L.A. reported. Council president Marqueece Harris-Dawson introduced the motion earlier this month with Council member Ysabel Jurado, citing concerns the tax may be dampening housing production. Despite its nickname, the […]This article originally appeared on The Real Deal. Click here to read the full story.