“When human dignity is being violated, we are called to act.” – Rabbi Sharon Brous
United to House LA (Los Angeles City Measure ULA) will create a permanent source of funding for affordable housing and renter protections by levying a small tax on high-value properties sold in the City of LA. IKAR urges a YES vote on Measure ULA.
By the numbers:
-Properties sold in the city for over $5 million will pay a one-time 4% point-of-sale tax.
-Properties sold for over $10 million will pay a one-time 5.5% point-of-sale tax.
-97% of property sales will not be subject to the tax.
-The tax is expected to generate $875 million annually.
-70% of the funds will go to building new affordable housing.
-30% of the funds will go to keeping low-income renters in their homes.
In a decade, the measure is expected to:
-Fund the construction of 26,000 homes for 96,000 people.
-Help 475,000 at-risk renters stay in their homes.
-Create 44,000 good-paying construction jobs.
Q: Why is IKAR endorsing this measure?
A: We believe we are called to build the beloved community, a society that recognizes the dignity and value of each human being. That requires that we have sufficient affordable homes to meet the needs of our community. We also seek to confront the climate emergency. Building more affordable homes in cities will reduce fossil fuel consumption and increase public transportation use by housing people near jobs and amenities. When we treat people with dignity, the whole community is elevated. This is the Torah of Home.
Q: Does the buyer or seller pay the tax?
A: Traditionally, the seller pays.
Q: Will this raise my taxes?
A: Probably not. This tax will only be paid by those who sell property for $5 million or more – mostly corporations selling commercial property.
Q: How is this different from Proposition HHH from 2016?
A: UHLA will create a permanent source of funding. Proposition HHH funded a limited amount of housing. We need much more. And we need the funding to continue indefinitely.
Q: Will this measure solve homelessness?
A: Unfortunately not. Homelessness is a symptom of a systemic crisis of housing affordability. This measure will help address the root causes, but the crisis will require multiple solutions. Measure ULA is one of them.
Election Day is on Tuesday, November 8, 2022.