A Hefty “Mansion Tax” Is On It’s Way to LA for 2023

Just weeks back, LA voters backed a new measure dubbed the “mansion tax” to generate money for affordable housing & homelessness prevention.

Beginning April 1st, 2023, sellers will start paying a 4% tax on property sales above $5-million & 5.5% on sales above $10 million.

This is an ADDITIONAL tax on top of LA County & LA City’s current transfer tax.

A $5-million sale will now include a $200,000 tax, and a $10-million sale will include a $550,000 tax, which is typically paid by the seller.

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Видео A Hefty “Mansion Tax” Is On It’s Way to LA for 2023 канала Zebrowski Group