Realtor,
Blair Thompson, Sherman Oaks, Studio City, Homes
For neighborhoods under the control of the City of LA such as Sherman Oaks, Studio City and Encino, selling a home is about to get much more expensive. A proposal currently under review by the council will drastically raise the taxes charged to homeowners when they sell their home.
When a home sells the current “city transfer tax” is $4.40 per $1,000 of sale price, or about $2,200 on a $500,000 home sale. This is in addition to the $1.10 per $1,000 the county charges. Under the new proposal that amount will rise to $9.00 per $1,000. or $4,500 on a half million dollar house.
The housing market is just in the beggining stages of a recovery Continue reading “LA City intends to DOUBLE the Real Estate Transfer taxes” »
