Introduced in November 2022, Measure ULA aimed to tax the sale of high-value properties to fund much-needed social initiatives.
Measure ULA established the ULA Tax to fund affordable housing projects and provide resources to tenants at risk of homelessness. The ULA Tax is imposed on all documents that convey real property within the City of Los Angeles when the consideration or value of the real property interest conveyed exceeds a certain threshold. For complete details on this tax, visit here.
Effective for transactions closing after June 30, 2025, the new thresholds for ULA will be $5,300,000 and $10,600,000. Transactions above $5,300,000 but under $10,600,000 will be assessed a 4% tax and transactions $10,600,000 and up will be assessed a 5.5% tax.
Special rates apply to the following 5 cities: Culver City, Los Angeles, Pomona, Redondo Beach and Santa Monica as shown below. The County rate for these 5 cities is calculated at the full $1.10 per $1000.
Should you have any questions or need further clarification on how these changes might affect your transactions, please don’t hesitate to reach out to us.
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