In the November 2022 election, the voters of the City of Los Angeles passed Los Angeles Measure ULA (United to House LA). Measure ULA which will go into effect on April 1,.
Measure ULA, also known as the "Homelessness and Housing Solutions Tax," was a ballot measure in Los Angeles which was recently approved by voters in the 2022 Los Angeles County Midterm Elections.
The new Los Angeles City real property documentary transfer tax greatly increases the documentary transfer tax DTT on the sale or transfer of real estate in the City of Los Angeles. The voters of the City of Los Angeles approved Measure ULA by a vote of 57.8% to 42.2%.
In addition to navigating through the uncertainty of current economic forecasts, real estate professionals should also be aware of a growing trend in the Golden State: real property.