Measure TE: Property Transfer Tax Exemption For Victims Of January 2025 Fire Disaster
Measure TE: Property Transfer Tax Exemption For Victims Of January 2025 Fire Disaster
Owners of Palisades Fire-damaged residential property would not pay the city's additional tax on property sales for one sale within five years of the fire.
A Yes vote
A No vote
Proposal impacts
Impact on Fire-damaged Palisades homeowners
Their property sale would owe no additional city tax, with refunds available for past payments.
Their property sale currently owes an additional city tax when its price exceeds $5.4 million.
Impact on Los Angeles residents
City housing budgets would collect $35 million to $66 million less. The measure leaves housing service changes unspecified.
City housing budgets currently use the additional property sale tax for affordable homes, rental assistance, and eviction help.
Impact on Undamaged property owners
Undamaged property sales would still owe the added city tax above its price cutoff, unlike covered fire sales.
Undamaged property sales currently owe the added city tax above its price cutoff, as do fire-damaged sales.
Impact on Eviction-facing renters
Eviction legal help would draw on a smaller city housing fund for renters seeking a lawyer.
Eviction legal help currently takes applications from tenants facing eviction earning at most 80% of typical local income.
