#mansion-tax

#mansion-tax

Some of the biggest mansions in and around Los Angeles haven't been fetching anywhere near their original listing prices, despite former ownership by some big-name celebrities. This month alone, homes once owned by Milwaukee Brewers minority owner Robert Beyer, singer Ricky Martin, and previously married Jennifer Lopez and Ben Affleck have sold or are asking for well under their listing price, Mansion Global reported.

"We wanted more time," she said. "We wanted to do more due diligence ... There were so many other issues on the docket."

What's commonly known as the mansion tax may have undercut the goals of its backers by slowing development and reducing new affordable housing by an estimated 168 units a year.