5/20/2023 0 Comments Source to pay coupaSome of them left homes that were in their possession for decades. As a result, many high profile celebrities have made the decision to dump their homes and flee the state of California in search for states with less strict tax laws. The money that comes out of this will be destined to support a homeless housing measure Angelenos passed during the last month of November. This change is destined to add hundreds of thousands and even millions of dollars in additional new transfer taxes for all sellers. In addition to that, any homes that sells above $10 million has to pay 5.5% of this mansion tax. This forces all millionaires to add 4% for sellers on houses that sell between $5 million and $10 million. Whether you are a Hollywood celebrity or a tech mogul in that city, you will be forced to pay for a new ' mansion tax' that went into effect today in the entire Los Angeles area. ![]() Even though the housing market in Los Angeles has cooled down in recent weeks, multi-millionaires are taking a massive hit from the government.
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