'Million Dollar Listing' star Josh Altman spoke to FOX Business about his client Dr. Paul Nassif's home, his thoughts on if it will sell and the current luxury real estate market.
puts a 4% tax on deals for homes above $5 million, and the rate increases to 5.5 % on deals above $10 million. This could lead to a bit of a struggle for real estate agents looking to sell multimillion homes in Los Angeles in the future.
In 2022, Los Angeles voters headed to the polls to vote on the "mansion tax" on property sales or transfers over a certain value to pay for affordable housing. At least 92% of the money would "fund affordable housing under the Affordable Housing Program and tenant assistance programs under the Homeless Prevention Program," according to the voter information pamphlet.Altman described Nassif as "amazing.
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