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Mayor Karen Bass pulled her last-minute bill to overhaul the city’s so-called “mansion tax.”
Backers had argued that the bill would have jump started housing production in L.A.
Measure ULA supporters expressed outrage over the bill, calling it an end run around voters.
Los Angeles Mayor Karen Bass’ bid to rewrite the city’s voter approved “mansion tax” fell apart on Thursday, with Bass and her allies pulling the state bill hours before its first critical vote.
Bass had worked with Sacramento legislators to draft a last-minute overhaul of Measure ULA, a tax hike on L.A. property sales above $5.3 million , preparing a bill that would reduce taxes charged on the sale of recently