‘Mansion Tax’ Slaughters LA’s High-End Real Estate Market

  • 📰 LegInsurrection
  • ⏱ Reading Time:
  • 49 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 95%

California أخبار

Los Angeles

The tax has been a spectacular failure, raising only 22 percent of its stated goal.

Legal Insurrection readers may recall that in the fall of 2022, Los Angeles voters passed a referendum in the city of Los Angeles for a “mansion tax” that would impose a new transaction tax on any real estate sale in excess of $5 million. The measure passed with nearly 58% of the vote, and owners of luxury homes were selling their properties as quickly as they could to avoid being hit with….a

Local real estate developer Hooman Ghaffari blasted the policy as ‘a sham’ that has ‘yet to come close to meeting stated goals’ while making new developments ‘financially unworkable’. “This tax has not had the effect that was promised, and it’s time for everyone to put aside their egos and realize this was a mistake,” Oppenheim said.

“None of that happens without ULA,” Greg Good, a senior advisor on policy and external affairs for the L.A. Housing Department, told the Times. When you import tens-of-millions of people from 3rd-world hellholes, you can’t be surprised when your country finally starts to resemble those same hellholes. Inflation, crime, imprisoned opposition party members & leaders, failing education and healthcare systems. It’s all happening, right in California.Indeed. The great philosopher-sage, Victor Davis Hanson, a California resident whose family has deep roots in the state, has repeatedly underscored this very point.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Tax changes small business owners should be aware of as the tax deadline loomsAs Tax Day approaches, there are plenty of things small business owners should keep in mind when filing taxes this year. April 15 is still the annual tax...
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »