"This summer's FIFA World Cup and U.S. Women's Open, along with the 2028 Olympic and Paralympic games, dominated much of Bass's address beginning with the remarks being delivered about five miles southwest of city hall at the Expo Center in Los Angeles's Exposition Park neighborhood south of downtown. After last week's messy battle over the two-tier property-transfer tax, Measure United to House L.A. (Measure ULA), Bass offered little to shed"
"where she stands on major reforms proposed by Councilmember Nithya Raman that would create aggressive carveouts across commercial and residential real estate. Bass's own push to get Palisades Fire-impacted property owners relief from the tax, which she introduced in October, was also absent from Monday's address. Measure ULA applies to sales of properties that sell for at least $5.3 million, applying a 4 percent levy on the deal and increases to 5.5 percent for those trading for $10.6 million or more."
Mayor Karen Bass delivered the State of the City address at the Expo Center in Exposition Park, about five miles southwest of City Hall. The speech emphasized upcoming major sporting events: the FIFA World Cup, the U.S. Women's Open, and the 2028 Olympic and Paralympic Games. The address offered little clarity on Measure United to House L.A. (Measure ULA) and on reforms proposed by Councilmember Nithya Raman to create carveouts across commercial and residential real estate. Bass's October proposal to exempt Palisades fire-impacted property owners from the transfer tax was not mentioned. Measure ULA levies 4% on sales of $5.3 million and 5.5% on $10.6 million-plus transactions. Raman's push for a 15-year exemption for new developments was referred to the Housing and Homelessness Committee instead of the June ballot.
Read at therealdeal.com
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