Taxes
Measure ULA Challenged in Federal Appeals Court
Newcastle Courtyards has just requested that the US Court of Appeals for the Ninth Circuit review and reverse the federal judge’s decision to dismiss this case. The reality is the ULA has been a tax impacting more than just “mansions” and is not meeting the promise sold to voters.
Read MoreBoard of Supervisors Pursue Streamlining Property Tax Appeals
At their April 9th meeting, the LA Board of Supervisors directed the agencies responsible for property tax assessments to find ways to streamline the process.
Current backlogs result in delayed refunds and corrected tax assessments for our members.
California Fuel Tax Revenue to Decline by Billions
With California being a leader in electric vehicles, reports estimate that it could come at the expense of fuel tax revenue.
Read MoreULA Revenue Oversight Continues
The Los Angeles City Council has unanimously voted to receive monthly revenue reports on Measure ULA.
Read MoreMayor Bass Signs Executive Directive to Promote Small Business Growth
Los Angeles Mayor Karen Bass has signed an executive directive aimed at identifying roadblocks that slow down small business creation, development, and growth.
Read MoreGovernor Newsom Releases 2023-2024 Budget Featuring $22.5 billion Deficit
After years of historic budget surpluses, California is preparing for a multi-billion-dollar budget deficit for 2023.
Earlier this week, Governor Newsom outlined budget cuts needed to tackle the $22.5 billion dollar deficit.
Read MoreMeasure ULA Transfer Tax to be Challenged in Court
Following its passage by voters last November, Measure ULA is being challenged in California courts.
Read MoreAs Measure SP Fails, ULA Appears to be Headed for Victory
Measures ULA and SP had massive consequences for the commercial real estate industry if they passed, and unfortunately, it appears one will.
While Measure SP appears to be headed for failure, Measure ULA looks like it will pass.
Read MoreNew Study Reveals Devastating Impact of LA City Transfer Tax
The Los Angeles City Council unanimously approved placing a new transfer tax proposal on the November ballot.
Read MoreNew Santa Monica Real Estate Tax Initiative
Santa Monica voters should expect a Real Estate Transfer Tax initiative on their ballots this fall. If passed, it would raise the transfer tax rate from 0.6% to 5.6% for properties transferred at $8 million or more.
This tax will significantly impact both commercial and residential properties and their tenants.