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The documentary stamp tax of a property located in the City of Santa Monica in Los Angeles County that recently sold was $29,250. What was the sale price of the property that sold in Santa Monica?

General Information The County assesses a Documentary Transfer Tax on the consideration or value of the interest or real property conveyed (exclusive of the value of any lien or encumbrance remaining thereon at the time of sale) exceeds $100 at the rate of $0.55 per $500 or fraction part thereof. Additional Tax Rates for Specific Cities The following five cities have passed ordinances imposing additional rates of tax per $1,000 of the consideration or value of property conveyed and is added to the present County Documentary Transfer Tax. TAX RATE / $1,000 City Addition Per $1,000 Valuation Culver City $4.50 Los Angeles $4.50 Pomona $2.20 Redondo Beach $2.20 Santa Monica $3.00 How to Calculate Documentary Transfer Tax For example, on a property valued at $21,100, the amount of the County's 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. However, if the property in this example were located within the City of Los Angeles, an additional $4.50 per $1,000 valuation will be assessed and collected at the time of recording for a total of $96.75. County and City transfer tax must be listed separately

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