A sizable majority of the city’s voters approved the tax, known as Measure ULA, in 2022. Hanging over the debate is the specter of a proposed statewide proposition that would sharply cap municipal transfer taxes, while also restricting other local taxes. Because the transfer tax doesn’t distinguish between what types of developments are subject to the tax, it has also fallen upon large apartment, mixed-used and commercial projects along with actual mansions. He also dismissed the idea that the city should preemptively rewrite its transfer tax to head off the Howard Jarvis-backed initiative. “Right now the argument for transfer tax reform is that Measure ULA isn’t working as promised — which, by the way, is a very good argument,” he said.