July 14, 2024

New California Real Estate Sales Tax

Another California success in tricking the voters into thinking that taxing the rich will solve all their problems.

This new Los Angeles California real estate transfer tax went into effect on April 1st of this year.

New California Real Estate Sales Tax

Sure, at the moment this just applies to real estate sales in Los Angeles County. but think about it, How long before this spreads to all the major cities in California?  actually, how long before it spreads to all the major liberal cities throughout the United States?

New California Real Estate Sales Tax

New California Real Estate Tax - Real Estate 2016

What people should understand on this measure is that this applies to all real estate in Los Angeles County. yes, it’s my understanding this applies to residential as well as commercial real estate. so, think about it for a moment, even a small little strip shopping center in Los Angeles cost way more than 5 million dollars!  also, it is in addition to the regular real estate transfer tax and is not based on a profit on the real estate but based solely on the sale price of the property!
Let’s say someone buys an apartment complex in Los Angeles now and  and pays multimillion dollars for it.  in reality because of this new transfer tax they’re going to have to raise rents in anticipation of when they finally sell the property to have enough left over after paying all the taxes to make the investment feasible in the first place!
The same is going to be true for commercial real estate property in Los Angeles County. Now we’re talking about shopping centers, medical Offices, grocery stores, auto repair centers and restaurants just to name a few. where the investors are going to have to raise the rents to cover the increased cost and when they raise the rents the tenants are going to have to charge their customers more money to cover these rents.  Yes, it’s not only the rich you are going to pay this tax it’s going to be all of us!

Everyone will pay for this new tax. Tax you ask the poor to agree to take from the rich is always agreed to , because it’s not them paying the price. That’s what they think anyway. Of course as prices go up and later all homes are over $5 million it will effect all houses. This is the same way income tax came into effect in the the first place. Voted to tax people who are rich only and that made over $10,000. Of course now even part time on minimum wage is that .

The people voting to have other’s pay a tax is used by government to trick people a lot. People think it is good idea if others pay. But it’s a game to get everyone . Don’t think for a second that wont apply to homes the poor need too.

 

New California Real Estate Sales Tax

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