1 month ago
Mondaq
Recently, many California cities, including flagship markets in the Bay Area and Southern California, have increased their real property transfer tax rates. Below is a summary of recently approved transfer tax hikes throughout a number of California cities. Including the 0.11% Los Angeles County transfer tax rate, the total transfer tax rate in the City of Los Angeles is 0.56%. Santa Monica (Measure GS)Santa Monica voters also approved a real estate transfer tax increase measure during the fall 2022 elections. TakeawaysAs city transfer taxes throughout California vary and the current political climate has seen significant surges in real property transfer tax rates, please reach out to the Real Estate Department of Greenberg Glusker LLP with questions on how this growing spike in transfer tax rates may impact specific sales, acquisitions, or other areas of strategic real estate planning.
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