LOS ANGELES—A new tax proposal will be on the Nov. 8 ballot for Angelenos to vote on, which if passed, would create additional homeless housing from a new tax. According to early polls, homelessness is the top issue of concern for Angelenos heading into the election.
Initiative Ordinance “ULA” proposed enacting a 4 percent property sales tax on all properties that are sold for over $5 million. The tax increases up to 5.5 percent on properties over $10 million and all funds will go toward affordable housing for the homeless.
A 2021 poll of 906 eligible voters living in LA estimated that 51 percent of voters said they would support a tax increase to support the development of more permanent supportive housing. The poll was conducted by the Los Angeles Business Council and Hart Research in cooperation with the Los Angeles Times….