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Per Measure SM, beginning March 1, 2021, the City Documentary Transfer Tax will remain unchanged at $3.00 per $1,000 value for sales and transfers under $5 million (First Tier Tax Rate).Description and Rates. County$5,500City of Santa Monica$30,000Total$35,000
Consult your county recorders office to find this rate. Typically, the rate is expressed as a dollar amount for a certain value of the recorded document. For example, a county might express the documentary transfer tax as $0.60 per $500 of value.
The new tax would be in addition to the existing documentary transfer tax imposed on property sales in the city of Los Angeles, which is imposed at a combined city and county rate of 0.56%.
The California Revenue and Taxation Code has set this tax for all counties at $1.10 per $1,000 (or $0.55 per $500.00 to be exact per the Code) of the transfer value (sales price) of the property to be transferred.
In California, the seller traditionally pays the transfer tax. Depending on local market conditions, transfer taxes can become a negotiating point during closing. For instance, in a strong sellers market, the seller may have multiple offers and will likely find a buyer who agrees to pay the transfer tax.
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Hence, to calculate you need to get the Transfer tax can be calculated by determining the one percent of the total consideration of the property, including its fair market value. With this, you need to get the 50 percent of whichever is higher in order to settle your tax dues.
Consult your county recorders office to find this rate. Typically, the rate is expressed as a dollar amount for a certain value of the recorded document. For example, a county might express the documentary transfer tax as $0.60 per $500 of value.
How to Calculate Documentary Transfer Tax. For example, on a property valued at $21,100, the amount of the Countys Documentary Tax would be calculated by rounding up the amount to $21,500, dividing $21,500 by $500, and multiplying that number by $0.55 for a total of $23.65.
A Documentary Transfer Tax is imposed on all documents that convey real property within the cities of Los Angeles County (Per Revenue Taxation Code Sections 11911-11933).
In California, the seller traditionally pays the transfer tax, thus the seller usually pays the Los Angeles County transfer tax. Depending on local market conditions, transfer taxes can become a negotiating point during closing.

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