A new analysis from UCLA’s Lewis Center for Regional Policy Studies authored by Michael Manville and Mott Smith claims that the so-called “mansion tax” has slowed down sales, especially for commercial properties Measure ULA was passed in 2022 and took effect in April 2023, bringing a 4% charge to all L.A. property sales above $5 million and a 5.5% charge to sales above $10 million. The proceeds fund affordable housing and homelessness prevention initiatives; roughly two years in, the transfer tax has raised more than $632 million. But the report — published Tuesday and titled “The Unintended Consequences of Measure...