| Los Angeles updated its revenue expectations for its new real estate transfer tax, Measure ULA, approved by voters last year. An estimate from the Office of the Chief Administrative Officer now forecasts the tax might generate roughly $672M in the fiscal year ending June 2024, The Real Deal reports. 
Though that's just an estimate for the first year, it is on the low end of what the city anticipated at election time, when it said the measure could raise between $600M and $1.1B, depending on market conditions. Even on the low end, Measure ULA would generate roughly $433M for affordable housing…  Read the full story here. | | |
