Los Angeles Property Owners Should know about Measure ULA, transfer tax

The measure will increase real estate transfer taxes in the City of Los Angeles, which are levied when a property is sold. The city of Los Angeles taxes all real estate transactions at 0.45% but with this new additional transfer tax also known as measure ula or homelessness and housing solutions tax.
- Taxes transactions between $5m to $10m at 4% of the sale price, and
- Those valued at $10m and above at 5.5% of the sale price.
-The tax rate for sales under $5M will remain unchanged, for now.
• Goes into effect April 1, 2023

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NBC LA source- https://www.nbclosangeles.com/on-air/breaking-down-las-proposed-mansion-tax/3024605/

Andrew Vargas at Coldwell Banker Realty
CalRE # 01982874
Email: andrew@andrewvargas.com
Website: https://www.andrewvargas.com​
Cell: 424-253-4096 or 714-371-3692