LA's Mansion Tax Sparks Rush to Sell High-End Homes.
TL;DR Summary
A new mansion tax in Los Angeles will require sellers to pay 4% on sales of homes priced between $5 million and $10 million, and 5.5% on sales of properties at $10 million or above, starting April 1. This has put pressure on sellers to close deals before the deadline, causing a scramble in the real estate market.
- 'We're Scrambling.' L.A.'s New Mansion Tax Put Sellers on a Deal-Making Deadline The Wall Street Journal
- LA's rich and famous in wild scramble to sell homes ahead of mansion tax New York Post
- What is the 'mansion tax' in Los Angeles? Reuters
- McLaren, Aston Martin or Bentley Offered With Luxe Home for Sale The Real Deal
- This LA mansion tax is disgusting, unfair – and definitely not hilarious in any way The Independent
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