Effort to exempt new apartment buildings in L.A. from 'mansion tax' moves forward
Key takeaways
- An effort to exempt new apartment buildings in Los Angeles from the so-called mansion tax moved forward Wednesday, amid concerns that the tax is suppressing housing construction and making the affordability crisis worse.
- Once the proposal is drafted, it must come back to council for a final approval to make it onto the November ballot.
- Wednesday was the deadline for the council to take the vote and stay on track to make the ballot this fall, said Councilmember Katy Yaroslavsky, who introduced the proposal along with Councilmember Tim McOsker.
An apartment building in Hollywood in 2024. (Myung J. Chun/Los Angeles Times) By Andrew Khouri Staff Writer Follow June 17, 2026 3:29 PM PT 1 3 min Click here to listen to this article Share via Close extra sharing options Email Facebook X Linked In Threads Reddit Whats App Copy Link URL Copied! Print 0:00 0:00 1x This is read by an automated voice. Please report any issues or inconsistencies here.
An effort to exempt new apartment buildings in Los Angeles from the so-called mansion tax moved forward Wednesday, amid concerns that the tax is suppressing housing construction and making the affordability crisis worse.
In a 9 to 5 vote, the City Council directed the City Attorney to draft a ballot measure that would ask voters to change Measure ULA, which funds subsidized housing construction and homeless prevention efforts by taxing nearly all property sales over $5.3 million.