Partial ULA Repeal Ballot Measure in the works by City Council, being voted on Tuesday:
https://laist.com/news/housing-homelessn...on-tax-reform-city-council-ballot-motion
Ballot measure would reform the 2022 ULA Mansion Tax as follows: (1) Permanent exemption from tax for all new multifamily residential, mixed-used, commercial/industrial properties built/renovated within 15 years of their last occupancy certificate. (2) Exemption for Palisades victims (3) Clarifying language and technical fixes for ULA revenue expenditures.
There's a strong likelihood this goes through. CM Nithya Raman authored this measure, with CM Marqueece Harris-Dawson having signed on to it. They just need 6 more votes in support, which they are likely to get. Attend the city council meeting tomorrow if you want to see this go through!