Challenge to LA 'mansion tax' is dismissed, but appeals are readyOctober 26, 2023 – Media Mention
Ken Fields, a Partner in the firm's Real Estate Group, was quoted in Daily Journal, and discussed Measure ULA's impact on the market.
Kenneth S. Fields, a partner with Greenberg Glusker Fields Claman & Machtinger LLP, said he believes that the market has taken the impact of Measure ULA into account since it went into effect six months ago.
"Anyone that was going to transact will transact," he said in a telephone interview. "It may chill anybody who was sitting on the sidelines. I don't see a major impact on transaction volume."
In April, Greenberg Glusker advised clients who have to pay the tax to file a form to preserve their right to a refund in the event that Measure ULA is overturned. Fields said he still urges sellers to do so.
"I would advise anyone who is a seller who is paying the tax to put in the request for a refund. But that is a prophylactic measure in case the tax is overturned," he noted.