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One of them is a temporary suspension of LA's so-called mansion tax. Los Angeles real estate agents wrote a letter to city and state officials with ideas for helping to expedite the rebuilding ...
The Los Angeles County Assessor is the assessor and officer of the government of Los Angeles County responsible for discovering all taxable property in Los Angeles County, except for state-assessed property, to inventory and list all the taxable property, to value the property, and to enroll the property on the local assessment roll. [2]
Stephanie Nordlinger had purchased a property in the Los Angeles area in 1988 and, under the provisions of Proposition 13, was required to have the property reassessed at a new value. The reassessed value of Nordlinger's property raised her tax rates by 36%, while her neighbors continued to pay significantly lower rates on their property.
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
The so-called mansion tax in L.A. applies to property sales of at least $5 million. ... In addition to Los Angeles, mansion taxes are in effect in New York, New Jersey, Connecticut, and Vermont. ...
Measure ULA will take effect on April 1st and slap a 4% tax on properties that are selling for from $5 million to $10 million and a 5.5% tax on those selling for over $10 million. The tax will sit ...
At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
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