LA could be sitting on billions in property — why not use it?

Los Angeles is facing scrutiny over its financial strategy as officials consider raising taxes and fees on residents while sitting on a vast portfolio of underutilized properties. The city owns roughly 7,500 properties, many of which remain undeveloped or mismanaged, leaving billions in potential revenue untapped. Critics argue that instead of burdening taxpayers further, officials should explore monetizing these assets to ease budget pressures. The debate highlights broader questions about municipal asset management and fiscal responsibility in the face of growing financial demands.

Why is LA trying to raise taxes and fees on residents while it’s sitting on potential billions in valuable property? That’s the question raised by Councilwoman Katy Yaroslavsky, and it’s worth asking. As The California Post reported earlier this week, the city of LA owns about 7,500 properties in town.  The city doesn’t even know...