Los Angeles’s recently approved Measure ULA — the United to House L.A. initiative also called the “mansion tax”
While $2.5 million is a lot of money for a home, it is not for a commercial building or a multi-unit residential property. If commercial property owners are forced to pay an additional tax on sales, they will most likely increase the listing price, and this increase will ultimately be transferred to renter by the new owner to make up the difference.
Source: Law Daily Report (lawdailyreport.net)
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