LA 'Mansion Tax' Is Yet Another Democrat Debacle In November 2022, Los Angeles voters approved a so-called 'mansion tax,' which slaps a 4% sales tax on properties sold for over $5 million, and 5.5% for those over $10 million. The scheme (Measure ULA), put forward by Democrats, was projected to raise roughly $672 million in its first year, to be used for affordable housing. Not only did the plan fall short by hundreds of millions of dollars (raising just $215 million), the... Read this story
