News & Analysis as of

Real Estate Market Realty Transfer Taxes

Morgan Lewis

Los Angeles ‘Mansion Tax’ May Be Lessened Using Tenants-in-Common Structure

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A recent amendment to the Los Angeles Municipal Code, Measure ULA, has greatly increased the real property transfer taxes for realty sold within the city. Properties owned and sold as tenants in common may help limit the...more

Goulston & Storrs PC

D.C. Transfer and Recordation Taxes On Track to Decrease to 2.9%

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D.C.’s recordation and transfer tax rates on commercial or mixed-use properties are on track to decrease to a combined rate of 2.9% for transactions closing after September 30, 2023. ...more

Greenberg Glusker LLP

A Growing California Trend? A Guide to Real Property Transfer Tax Hikes

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In addition to navigating through the uncertainty of current economic forecasts, real estate professionals should also be aware of a growing trend in the Golden State: real property transfer tax hikes. Recently, many...more

Barnea Jaffa Lande & Co.

Israel: Everything to Know about the Purchase Tax Hike on Real Estate Investors

Barnea Jaffa Lande & Co. on

Last week, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The ministry’s goal is to “dissuade” investors from...more

Blank Rome LLP

New York Enacts Changes to Liability Provisions of New York Real Estate Transfer Tax

Blank Rome LLP on

On April 7, 2021, the New York State Legislature passed the New York Budget Bill for fiscal year 2022 which was signed by Governor Andrew Cuomo on April 19, 2021 (the “Budget Bill”). S.B. S2509C, 2021 Leg., 2021 Reg. Sess....more

Goulston & Storrs PC

DC Transfer and Recordation Taxes Increased to 5%

Goulston & Storrs PC on

As anticipated, on Tuesday May 28, 2019, the DC Council unanimously approved increasing transfer and recordation taxes from 2.9% to 5% on transactions of over $2 million effective October 1, 2019 (assuming Congress does not...more

Pullman & Comley, LLC

Groundbreaking News - Fall 2018

Pullman & Comley, LLC on

Welcome to Pullman & Comley's Real Estate Newsletter, Groundbreaking News. Written by our team of attorneys, you'll find articles that highlight hot topics and developments spaning the fields of real estate, land use and...more

Hogan Lovells

What's on the radar for real estate?

Hogan Lovells on

In this short guide, we have highlighted some of the key legal changes that are on the real estate radar in a variety of international jurisdictions. ...more

Akerman LLP

California Supreme Court Affirms Transfer Tax On Entity Control Change

Akerman LLP on

California allows cities and counties to impose a tax on certain real estate transfers at a rate of 1.1 percent of the sales price. Los Angeles County enacted an ordinance to impose the tax on transfers within the county....more

Cole Schotz

“Reverse” Like-Kind Exchanges Not Subject to NYS Real Estate Transfer Tax

Cole Schotz on

In an Advisory Opinion issued near the end of 2016, the New York State Department of Taxation and Finance has determined that the transfer of real property in New York State from an “exchange accommodation titleholder” to a...more

Holland & Knight LLP

Supreme Court of California Set to Decide Documentary Transfer Tax Case

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The Supreme Court of California is slated to review a 2014 decision by the California Court of Appeal for the Second District, which held in 926 North Ardmore Avenue, LLC v. County of Los Angeles that a change in ownership of...more

Ballard Spahr LLP

Philadelphia Toughens Its Realty Transfer Tax Law

Ballard Spahr LLP on

Philadelphia just dramatically tightened its realty transfer tax rules to impose more realty transfer tax. Under the current Philadelphia and Pennsylvania realty transfer tax law, a real estate company owes realty transfer...more

Troutman Pepper

Philadelphia Real Estate Transfer Taxes Rising in 2017

Troutman Pepper on

Beginning January 1, 2017, Philadelphia’s real estate transfer tax will increase from 3 percent to 3.1 percent. That’s in addition to the Pennsylvania realty transfer tax of 1 percent, for a total of 4.1 percent....more

Ballard Spahr LLP

Real Estate News in Metro DC

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Ballard Spahr’s mixed-use, condominium, and multifamily lawyers are pleased to provide this newsletter to keep you apprised of important developments and trends in real estate law in Maryland, Virginia, and Washington, D.C. ...more

BakerHostetler

Senate Finance Committee Chairman Proposes Repeal of Like-Kind Exchange Deferral and Other Changes Affecting Real Estate

BakerHostetler on

On November 21, 2013, Senate Finance Committee Chairman Max Baucus released the third package in a series of "Staff Discussion Drafts" containing proposals to reform the tax code. This third set of proposals focuses on...more

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