Atlas Point Weekly
Mind the Mansion Tax
Los Angeles’ new real estate transfer tax went into effect on April 1, 2023. With more state and local governments likely to consider these new “mansion taxes,” it is likley to trigger many potential irrationalities in sellers. These can result in sellers selling too quickly or holding onto a property too long—both actions having the potential to negatively impact their long-term financial well-being. So, why might sellers behave this way? And, more importantly, what can Financial Professionals do to help their clients avoid an irrational decision that can devalue a client’s entire portfolio? We discuss three common irrationalities (and how to help your clients navigate them) below:
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