The price goes up just because the property is in L.A., and the property goes into L.A. because of the location. It's like a downward death spiral, but going up instead of down.
And since it is a liberal town, it's not like the tax will be passed along to the buyer. The seller will just absorb the added cost and smile because they are making a contribution to society.
“What is the most important factor in real estate? Location, location, location!!!”