Home Buying in Los Angeles>Question Details

Sodhi, Home Buyer in Los Angeles, CA

what is tax for owner occupied properties in LA. I am Australian resident want to stay in LA for new business venture.

Asked by Sodhi, Los Angeles, CA Fri Feb 11, 2011

I am Australian resident want to move to LA to start a new business. I want to buy a house to stay in there. What is tax rates for owner occupied homes in LA.

Help the community by answering this question:


It is a little more complicated for a foreigner buying in America/California than what has been alluded to. There is a FIRPTA tax that you should be aware of and it is charged to a foreign holder of real estate when they go to sell a property. This is usually a 10% tax on any gains realized on the sale of the foreign owned property and is withheld by the escrow company at closing. There is also a city/county transfer tax that is typically paid by the seller in California. In Los Angeles County and Los Angeles City that rate of tax would be around $5.60 per $1000. More information on FIRPTA can be found here, http://www.irs.gov/businesses/small/international/article/0,…
Let me know if I can be of any assistance in your search.
Scott Walker

310-893-0101 Office
310-709-6807 Cell
310-482-2201 Fax


Keller Williams Realty
2701 Ocean Park Blvd., Suite 140
Santa Monica, CA 90405

DRE License #01428946
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Sodhi:
It seems like there is already a lot of good information that agents are giving you. Each pocket of LA is different so there is not one definite answer depending on what city, community and tract of home you are interested in. Some have special assessments. Best way is to go onto the county assessor website, enter the APN number or the property address and it will tell you how much the current owner is paying the property tax for the last purchase year. This can be a little complicated, I suggest you get a knowledgeable agent to help you determine what your desires are. I have agents that specializes in LA, if you are interested, please contact me. (626) 715-0992.
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Sodhi,
ESTIMATE 1.25% x Purchase Price *Per Year* (although it varies for each municipality within Los Angeles).
I'd just like to add to the posts below that the the total amount for the year is divided by 2 and billed/paid in 2 separate installments. The first installment pays for July 1- Dec 31 and is Due By Nov 1/Delinquent after Dec 10. The second installment pays for Jan 1- June 30 and is Due By Feb 1/Delinquent after April 10.
Here's a great website for you to reference as a new homeowner: http://lacountypropertytax.com/portal/contactus/homeownmsg.aspx
Best of luck to you and please let me know if I can be of any more assistance with your purchase. (I lived in Melbourne and love my Ozzies!)
Suzanne (Suzie) Glaser
p.310.383.1141 | http://www.LAVillageREALTY.com
RealEstateSuz@gmail.com | lic # 01390707
(a division of Power Brokers Int'l | lic # 01520327)
0 votes Thank Flag Link Sat Feb 12, 2011
LA County Tax is one thing, but there are also local ballot measures that have changed property taxes slightly different...(though in the same ball park)... Santa Monica, Inglewood, etc are cities that have slightly different rates.
Web Reference: http://shortsalecentral.org
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Sodhi:

1.25% is a commonly used property tax "guesstimate". However, if you truly want to know how to accurately estimate your property tax for an individual property the process for doing so is detailed here: http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/…

If by "LA" you mean "LA" County, you will need to access the specific tax information for the property you will consider in order to review all three possible tax levies that can be placed on a property.

First, you need to enter the property address to find the property's Assessor Parcel Number at:

Second, you need to enter the Assessor Parcel Number here:

This will provide a complete breakdown of taxes and levies that exist on a particular property.

Best of luck with your move and new venture!

Best, Steve
0 votes Thank Flag Link Sat Feb 12, 2011
Ho Sodhi,

The property tax rates in California are based on the purchase price of the property, and are equal to approximately 1.25% of the sale price. For example, a property purchased for $400,000 would have an annual property tax of about $5,000. Hope this helps - let me know if you have any questions. Good luck with your new business!

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
Facebook: http://www.facebook.com/RealtorJB
Twitter: @RealtorJB
0 votes Thank Flag Link Sat Feb 12, 2011
Hi Sodhi,

Because of a number of small city and neighborhood taxes, it can vary a little, but you're usually sfae in estimating at approximately 1.25% of your total purchase price. Feel free to give me a call or shoot me an email, if you have any further questions or would like me to set up a custom home search with email alerts for you.

All the best,
Brad Reed
0 votes Thank Flag Link Sat Feb 12, 2011
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