California Billionaires Could Get Hit With 5% Wealth Tax—Here’s How It Will Affect the Housing Market
California’s billionaires may be on the hook for a one-time 5% tax on their net worth to help the state fund health care for low-income residents after sweeping federal cuts to Medicaid—a move that could generate about $100 billion in revenue but potentially shake up the local housing market’s luxury segment. Last week, the Service … Read more