Largest Tax Increase in History: STOP L.A.’s NEW TAXES
October 20, 2022 @ 11:00 am - 12:00 pm
| Free for AAGLA MembersA Discussion of the City of L.A.’s New Tax Proposals: Measures ULA and SP
The City of Los Angeles has proposed the LARGEST tax increase in history, EVER! These new taxes will hurt property owners of all types, and ultimately result in HIGHER prices for all types of goods and services. Join us as we discuss proposed ballot measures ULA (transfer taxes) and SP (parks taxes) and learn how much YOU may be paying in additional taxes should these measures pass this November 2022!
Please join us on October 20th at 11:00 a.m. for a discussion of the proposed City of Los Angeles November ballot initiatives that, if passed, will become the largest tax increase in history and negatively impact your “bottom line.” California’s taxes are already known for being among the highest in the country, and these measures will only add to that burden and result in higher costs for all consumer goods and services of all types. Following nearly three years of moratoriums and inflation, the last thing anyone needs is more, new taxes!
With today’s inflation exceeding 8% and at a 40-year high, there’s no way we should be increasing any taxes that make it more expensive to live or work in the Los Angeles area. And this is exactly what Measures ULA and SP want to do. Measures ULA and SP will appear on the November ballot and be decided upon the City of Los Angeles’ voters. You must vote NO on these ballot measures.
Together, these two measures create a $1.1 billion property tax increase — the largest tax increase in the city’s history — that will drive up the cost of everything. If they pass, rents for apartments and small businesses will go up by 6%. Owners of commercial buildings and multifamily housing will be “hit” the most by the passage of these measures, and as a result, prices for consumer goods and all types of services will be increased to pay for these new taxes – ultimately, consumers will bear the burden of these two measures through higher prices on goods and services of all kinds.
And make no mistake about it, measures ULA and SP will increase property taxes for L.A. renters, homeowners, and small businesses — dismantling decades of Proposition 13 protections!
WEBINAR DISCUSSION TOPICS INCLUDE:
- Los Angeles City’s proposed Measure SP to fix parks and add-on more than $84 per 1,000 square feet of property in new property taxes.
- Los Angeles City’s proposed transfer tax, which will increase the tax burden on real estate transactions over $5M from 0.45% to 4.0% and over $10M to 5.5%!
- And, of course, we’ll have much, much more…including Q&A to follow the presentation.
Please log in to register. If you have any questions regarding this event, please contact Events Manager Diana Alcaraz via email at . For faster service, please have your membership number ready. We look forward to seeing you. Please stay diligent and be healthy!
WARNING: THE INFORMATION PROVIDED DURING THIS WEBINAR IS FOR GENERAL INFORMATION PURPOSES ONLY. ABSOLUTELY NO LEGAL OR TAX ADVICE IS BEING GIVEN DURING THIS WEBINAR. BEAR IN MIND THAT EVERY SITUATION IS UNIQUE, AND THE LAWS, RULES AND REGULATIONS ARE SUBJECT TO CHANGE AT ANY TIME. SO, BEFORE ACTING, BE SURE TO OBTAIN TAX AND/OR LEGAL ADVICE FROM A LICENSED PROFESSIONAL.
About Our . . .
Panelist(s):
Anthony Russo, Partner, Russo McGarty & Associates
Anthony Russo, a partner at Russo McGarty & Associates, has a 26-year track record in government relations, political strategy, and public policy. He specializes in providing strategic consulting to major corporations, professional associations, and initiative campaigns. Anthony previously was Group Senior Vice President of Corporate Affairs for the Irvine Company, one of the nation's largest private real estate companies, where he had responsibility for government affairs, political action, branding and communications. Anthony participated in several successful political efforts including the opposition to the Proposition 10 ballot initiative in November 2018. Anthony graduated Phi Beta Kappa from the University of Southern California with a master's degree in public administration and a bachelor's degree in political science.
Moderator: Daniel Yukelson, Executive Director, Apartment Association of Greater Los Angeles
Daniel Yukelson is currently the Executive Director of The Apartment Association of Greater Los Angeles (AAGLA). As Certified Public Accountant, Yukelson began his career at Ernst & Young, the global accounting firm, and since then had served in senior financial roles principally as Chief Financial Officer for various public, private and start-up companies. Prior to joining AAGLA, Yukelson served for 12 years as Chief Financial Officer for Premiere Radio Networks, now a subsidiary of I-Heart Media, and then 3 years as Chief Financial Officer for Oasis West Realty, the owner of the Beverly Hilton and Waldorf Astoria Beverly Hills where he was involved with the development and construction of the Waldorf. Yukelson also served for 6 years as a Planning Commissioner and for 3 years as a Public Works Commissioner for the City of Beverly Hills.
