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Transfer Tax

May 30, 1991

Our organization adamantly opposes Mayor Tom Bradley's proposed tax on the sale of Los Angeles homes.

A new tax that is linked solely to the sale of homes is not only unfair, but is discriminatory because it places an unfair financial burden on only those buyers and sellers of property in the city of Los Angeles.

Because of the city's budget deficit, we suggest the mayor look to independent agencies, such as the Department of Airports and the Harbor Department for sources of revenue, as opposed to further burdening the homeowners.

Since the typical residence in Los Angeles sells in excess of $200,000, this proposed "homeowner transfer tax" will average over $1,000 per sales transaction.

DON SCHULTZ, President

Van Nuys Homeowners Assn.

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