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On Election Day, voters in the City of Los Angeles will be asked to vote on Measures ULA and SP, which will increase taxes by more than $1 billion annually and raise the cost of everyday essentials and housing.
Measure ULA, which will come to a vote on the November general election ballot for City of Los Angeles residents, will impose an additional tax of 4% on sales of property valued at between $5 million and $10 million and a 5.5% tax on sales of property valued at $10 million or more – negatively affecting property valuations and rental incomes.
Measure SP will give LA politicians hundreds of millions more taxpayer dollars by increasing property taxes on nearly every residential and commercial property in LA. Contrary to the arguments in favor of these initiatives, there appears to be very little money for permanent supportive housing or shelters for LA’s homeless population.
Last month, ICSC held a webinar for its members featuring the leaders of Angelenos Against Higher Property Taxes, a coalition of renters, homeowners, small businesses, veterans, social justice leaders and community advocates who oppose Measures ULA and SP. The coalition is currently funding a direct mail program, digital ads and television commercials, which can be viewed here and here.
ICSC is also monitoring similar local tax increase measures in the cities of Santa Monica, San Francisco and South San Francisco. The proponents of these measures are using the so-called “Upland Loophole,” referring to a 2017 decision by the California Supreme Court that may have created a loophole for special interests to get around the limitations on tax increases established by Propositions 13. There is concern that if these and Los Angeles Measure ULA and SP pass in November, other cities throughout the country will follow this trend.
Defeating these measures is a top priority for ICSC. ICSC is encouraging its members to spread the word to City of Los Angeles voters: Vote No on ULA and SP.
For more information on how to get involved, visit: http://votenoulaandsp.org/ or contact Abby Jagoda, Vice President of Public Policy, at ajagoda@icsc.com.