LA Taxed Housing To Get More Housing. It Got Less

Los Angeles 'Mansion Tax' has Become a Weapon of Fiscal Mass Destruction

The 2023 tax has effectively blocked the building of 9,100 homes, wiped out 16,650 full-time construction jobs and cost $452 million in revenue.

LA Taxed Housing To Get More Housing. It Got Less

Jon Fleischman, California Post Los Angeles had a housing shortage. So naturally, it decided to tax housing.

LA taxed housing to get more housing. It got less.

Politicians love talking about who supposedly pays a tax. What matters in the real world is what transaction government is taxing — and how people change their behavior to avoid it.

LA’s ‘mansion tax’ backfires spectacularly as thousands of homes and jobs vanish…

A damning new report says the tax, officially known as United to House LA, or ULA — has had a negative impact on the city’s high-end and multi-family real estate markets and collected less than half what it was expected to generate to tackle the city’s housing crisis. LA’s “ mansion tax,” sold to Angelenos as a way to tax the rich and boost housing, has instead blocked the building of 9,100 homes, wiped out 16,650 full-time construction jobs and…

LA taxed housing to get more housing. It got less. – Yahoo Finance

LA taxed housing to get more housing. It got less.  Yahoo Financehttp://dlvr.it/TVmPF1