Dec. 22, 2022, 9:58 PM; Updated: Dec. 22, 2022, 10:39 PM
A tax on sales or transfers of real estate worth more than $5 million that Los Angeles voters approved in November violates the state constitution and the city charter, a lawsuit announced Thursday contends.
The Howard Jarvis Taxpayers Association and Apartment Association of Greater Los Angeles are challenging Measure ULA, which levies a 4% tax on transactions over $5 million and 5.5% on transactions over $10 million. Voters approved the measure with 57.77% support and it takes effect April 1, 2023.
Known as the mansion tax, it is expected to raise between $600 million and …
