Home Selling in Los Angeles>Question Details

Cheviot Gal, Home Owner in Los Angeles, CA

How does one interpret documentary tax stamps on 1954 deed for home in L.A., CA? 4 large stamps & 2 small ones with numbers on them represent

Asked by Cheviot Gal, Los Angeles, CA Thu Apr 7, 2011

price. For tax purposes, need to establish original tax basis for my mother's house which was sold last year. Don't know how to interpret numbers on tax stamps to come up with purchase price. They cannot all represent x $1000 because the total would be almost double what i believe purchase price was.

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Diane Wheatley’s answer
Dear Cheviot Gal,

The deed should have the documentary transfer tax amount listed on the first page of the recorded Grant Deed. If the transfer tax paid was $363.00 as an example, then you divide 363 by 1.1% to compute the purchase price on the home. In this example $363.00 divided by 1.1% is $330,000. I believe you may need to add a an extra zero to your answer to arrive at the correct value.

Just look for the transfer tax amount that was paid and use that number for your calculation. Good luck!

Diane Wheatley, Broker
0 votes Thank Flag Link Sun Apr 10, 2011
Best to confer your questions to the county tax office
0 votes Thank Flag Link Sun Apr 10, 2011
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