Real Estate & Home

L.A.'s Mansion Tax Chokes New Construction as Permits Plunge 40%, New Study Shows

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A study shows Los Angeles' "mansion tax" has led to a 40% drop in construction permits citywide since its implementation in April 2023, despite intentions to fund affordable housing. The tax discourages investment across all property types, exacerbating the housing shortage and affordability issues, prompting calls for reform or repeal from critics who argue it stifles supply rather than boosts affordability.

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