Actress shreds 'mansion tax,' reveals where she thinks rich will move
"People hate to pay taxes on entrances or exits to their homes," Corcoran said. "They feel like they're hit upon, taken advantage of."
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"People hate to pay taxes on entrances or exits to their homes," Corcoran said. "They feel like they're hit upon, taken advantage of."
Known as Measure ULA, the tax takes effect on April 1, and will charge sellers a 4% tax on property transfers above $5million and a 5.5% tax on sales above $10million, on top of a base rate of 0.45%.
Los Angeles' rich and famous are going to wild lengths — slashing prices, offering luxury cars to sweeten the deal — to sell their homes before the new mansion tax kicks in.
The transaction will have a pre-money enterprise value of approximate $150 million at closing, according to an announcement Tuesday.
Millionaire home sellers are slashing prices and sweetening deals this week in Los Angeles, eager to move their properties off