Story perspectives
Councilmember and Mayor Announce $300M Mansion Tax Fund
4/10/2026
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Story summary
- Councilmember Ysabel Jurado and Mayor Karen Bass announced $300 million from mansion tax funds, though formal approval is required.
- The mansion tax has raised over $1 billion since 2023, yet only $93.9 million has been spent on housing projects.
- Real estate expert Mott Smith says the tax has driven builders away and produced little housing.
- Officials acknowledge issues and seek changes to improve access to ULA funding amid legal challenges.
