Community, Diversity, Sustainability and other Overused Words

Articles from the April 24, 2022 edition

Sorted by date  Results 1 - 1 of 1

  • Santa Monica's Disastrous "Housing and Schools" Transfer Tax Proposal

    Peter Borresen, Santa Monica Resident|Apr 24, 2022

    This is not a 'wealth tax' as the signature gatherers proclaim - it is a real estate transfer tax. They are completely different things. With this new transfer tax, if you buy and sell a house for even the same price, you will owe $500,000. And as the threshold is not inflation adjusted, in a very few years it won't be just the wealthy paying this, it will be everyone - even for modest homes. And then the house-flipping industry will stop... This will have a crushing effect on realtors,...