RAND found that LA's 'mansion tax' has reduced large apartment construction by ~30% since 2023 and has cost local, county, and state agencies $452M in revenue.
Tenants in buildings that paid measure ULA taxes saw rent increases.
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“Through April 30, 2026, the measure had generated nearly $1.2 billion from 1,633 real estate transactions, according to Los Angeles Housing Department officials.”
I think 1.2 billion is a bigger number than 452 million.