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By: The Editorial Board of Real America News Updated 31 Oct 2022, 19: 41 pm EDT
Measure ULA, addressed to the city of Los Angeles, proposes to enact a 4% tax on the sale of properties valued at more than $5 million and 5.5% if they are valued at more than $01 million. The tax will be applied only when the property is sold and will be paid by the seller.
The money will be used to increase the availability of housing at certain income thresholds and to prevent homelessness. It will also allocate part of the funds to provide legal help for tenants.
Real America News supports the ULA Measure and calls on its readers to vote for its approval in these elections.
The proponents estimate that the measure will generate revenue of about 900 million dollars each year , coming especially from multi-apartment buildings and commercial land.
In recent years, rising rents and a lack of affordable housing have created the worst housing and homelessness crisis in the country in Los Angeles . More of 40,000 People live on our streets.
The measure aims to reduce the wave of homeless, not only providing help directly through the acquisition of housing units and their conversion to an affordable rental, but also, with a 30% of your funds, helping low-income older residents prevent them from losing their homes .
The ULA measure also includes ideas aimed at reducing the cost of building new homes. This is crucial because the basic problem is that not enough houses are being built and the shortfall can be measured in the hundreds of thousands of units.
In that sense, it is not limited to the homeless but also aims to assist low-income Angelenos in general in the aspect of their lives that is perhaps the most distressing, housing, its low availability and high prices.
It constitutes an attempt to eradicate the worst results of Proposition 13 than from 1978 limits the property tax to 1% and does not allow annual increases of more than 2%, and has contributed to a reduction in tax revenues from those who have the most.
If we have any reservations, it is the fear that the millionaires and billionaires of Los Angeles will find a way to transfer the tax increase to others, thus defeating the purpose of this measure. This outcome will be avoided.
Therefore, vote for Measure ULA in the city of Los Angeles!