Member-only story
The United States is Finally Tackling Homelessness
One of the biggest homelessness hubs in the world — Los Angeles — is making great strides in getting those people off the streets and into shelter. Well, a new tax fund proposed by the city of LA would provide homelessness housing… something that is long overdue.
A new coalition of housing advocates, labor unions, and progressive activist groups are filing paperwork for a measure, increasing taxes on real estate transactions in the city to fund permanent housing for homeless people.
They need a total of 65,000 signatures by the time spring rolls around in order to place the tax plan on next year’s ballot.
This measure would add a 4% tax on property sales above the $5 million range. Then it goes to 5.5% on property sales that hover above $10 million. The idea is that you would owe $200,000 on a $5-million sale.
Laura Raymond, director of the Alliance for Community Transit-Los Angeles said: “This is really about millionaires and billionaires paying their fair share to have a transformative approach to solving our housing crisis.”
She continued: “This affects folks who are very privileged who have made money off increases in property values,
and inequity is one of the reasons why we’re in the situation we are in. So, it’s making sure…