Los Angeles’s property transfer tax, Measure ULA, so far has generated the most revenue for the city during this past January, of $54.1 million.
That covers 73 residential and commercial transactions, with an average price of about $741,000, during the month, according to city data.
Excluding May and June 2023, when the tax was first implemented, the month that brought in the lowest amount was December of 2023 (for fiscal year 2024, as the city’s fiscal years run from July to June), of about $13.8 million across 34 transactions.
Overall, the city has raked in about $632.6 million in revenue across 939 deals from the measure. Most of those transactions – 58 percent of them – are for single-family homes, and 22 percent are for commercial properties (apartment buildings are their own category).
The Measure ULA “mansion tax,” which has applied to real estate sales after April 1, 2023, has been controversial. One new report found that investment sales have fallen in the city, and the tax has generated less than its $900 million annual goal.
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