Sorting out Measure ULA proposals as City Council balks on ballot measure

Reforming or repealing Measure ULA has dominated conversation in the real estate industry for the past three years, with a litany of complaints including that the property-transfer tax imposed across the board in the City of Los Angeles has put a damper on luxury residential sales and frozen multifamily development. The latest turn saw the Los Angeles City Council shelve a proposal to exempt new multifamily projects from the tax. This would have appeared on the November ballot for residents to vote on — a move that would be necessary because Angelenos approved it at the polls three years ago.  […]

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