Coalition of Los Angeles REALTOR® Associations Keeps Transfer Tax Increase Off the Ballot

Last spring, when the City of Los Angeles proposed solving its $230 million fiscal year budget deficit by doubling the documentary transfer tax rate to $9 per $1,000 of assessed value, REALTORS® took action – fast. Eleven REALTOR associations covering the Los Angeles metropolitan area put together a coalition – 25,000 REALTORS® in all – to mount a successful campaign against the proposed transfer tax increase. And, by the way, they offered a viable alternative for raising the needed government funds. Using their own resources, along with funding from the California Association and NAR’s Issues Mobilization program, the coalition conducted polls, drafted alternative policy language and distributed effective mailers, which helped to get the transfer tax proposal off the March ballot.