LA City Council Rejects Mansion Tax Exemption for New Apartments

The Los Angeles City Council voted 13-1 to reject a proposal that would have exempted new multi-family and mixed-residential buildings from the city's 'mansion tax' for 10 years. The council chose to 'note and file' the proposal, effectively ending the current effort to change the tax rules for new construction.

We have not fully decoded this article yet, so read the full story at MyNewsLA — Government.