Since the Measure ULA property transfer tax in Los Angeles went into effect on April 1—after a slew of last-minute deals were rushed through at the end of March to avoid it—the city’s top financial advisor has had a lot to say about its implementation: all of it disappointing to proponents of the measure, which was approved by a lopsided margin of city voters in November.

Last month, the city’s fiscal overseer reported that the yields for a new housing fund that will be paid for from proceeds of the new property transfer tax will be much less than advertised by proponents of Measure ULA.

Jack Rogers

 

GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.