Tax Closing Costs

Property Taxes: This is the one closing cost that is often prorated between the buyer and seller.  If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property.  Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the buyer occupied the property.

Transfer Taxes and Recording Fees: This is the cost for transferring ownership of the property and recording the purchase documents - The fee is often calculated as a percentage of the sales price.

In the City and County of Los Angeles, the transfer tax fees are as follow:

    City Transfer Tax is $4.50 per every $1000.00

    County Transfer Tax is $1.10 per every $1000.00

For a complete list of different Cities and Counties Transfer Tax rates, see the following link:

    Transfer Tax List