The ULA Tax Goes Into Effect April 1st!
As the Unoccupied Lot Assessment (ULA) tax comes into effect on April 1 in Los Angeles, it's essential for property buyers to navigate this new terrain with confidence and ease. Fortunately, Coastal Vacation Estates is here to offer peace of mind and expert guidance.
Voted in by Los Angeles voters in November 2022, the approved ULA initiative imposes a new 4% to 5.5% transfer tax on high-value real estate transfers for special purposes related to housing. Our specialized focus on the incorporated cities of Los Angeles County means that we can help you find properties that are NOT subject to the ULA tax, providing a tax advantage and the assurance you deserve. With our expertise in the Beach Cities area and beyond, you can explore a plethora of options that match your unique needs and budget.
From the pristine coastal towns of Malibu, Santa Monica, Manhattan Beach, Hermosa Beach, Palos Verdes Estates, and Redondo Beach to West Hollywood and Beverly Hills, we can help you find the high-end property you've been dreaming of while minimizing your tax burdens.
To learn more about how the ULA tax may affect residential and commercial real estate deals, visit these resources at https://finance.lacity.org/faq/real-property-transfer-tax-and-measure-ula-faq and https://www.mayerbrown.com/en/perspectives-events/publications/2023/01/the-los-angeles-mansion-tax-how-the-ula-tax-may-impact-commercial-real-estate-deals.
Don't let the ULA tax discourage you from exploring Southern California real estate. Contact Coastal Vacation Estates today to discover your options and find the perfect property for you. Contact us today!