Understanding Los Angeles’s Transfer Tax: A Quick Guide – Beragampengetahuan

What are the types of transfer taxes?

Transfer taxes will typically vary based on local guidelines but can generally be broken down into three categories — state, city, and county, depending on the state. Here’s a quick look at how it works in Los Angeles.

State transfer taxes

For Los Angeles property transfers, a documentary transfer tax of $0.55 per every $500 of home value is assessed. However, there may be other taxes to consider depending on where you are located in the Los Angeles area.

County transfer taxes

In Los Angeles County, there are five additional special tax rates, depending on if you are located in Culver City, Los Angeles, Pomona, Redondo Beach, or Santa Beach, and depending on if your property changed hands prior to March or April in 2023.

For property that changed hands in Los Angeles after April 1, 2023, a rate of 0.45% on sales above $100 but not exceeding $5,000,000; or 4.45% on sales above $5,000,000 but below $10,000,000; or 5.95% on sales $10,000,000 and above is assessed.

Other transfer fees

In addition to transfer taxes, there are possible fees to consider, such as from a homeowner’s association or another local neighborhood organization. Again, as these can vary heavily based on location, it’s important to consult a professional.

If you’re selling your home for sale by owner, consulting a professional might help with some of the finer points of the process and give you a better idea of what you can expect.