LOS ANGELES (KNX) — A coalition of housing advocates, labor unions and progressive activist groups is proposing a tax that it feels could solve the homelessness crisis in Los Angeles.
Organizers planned to file paperwork this week for a ballot measure that would increase taxes on real estate transactions in the city to fund permanent housing for homeless people, according to The Los Angeles Times.
Organizers aim to collect 65,000 signatures by spring to get the tax proposal on the November 2022 ballot.
The measure would levy a 4% tax on property sales that are more than $5 million, and 5.5% on transactions above $10 million, according to the report from the Times.
“This is really about millionaires and billionaires paying their fair share to have a transformative approach to solving our housing crisis,” Laura Raymond, director of the Alliance for Community Transit-Los Angeles and one of the leaders of the coalition, told the publication.
Homelessness is an issue the region has grappled with for years, and most recently, a poll from the Times and the L.A. Business Council Institute revealed nearly 40% of L.A. voters are made to feel “significantly unsafe” by homelessness in their neighborhoods.
One in five surveyed said they considered leaving L.A. because of homelessness.
Follow KNX News 97.1 FM
Twitter | Facebook | Instagram
Related
