California Supreme Court Allows Documentary Transfer Tax For Proposition 13 “Change in Ownership”

In California Supreme Court Decision Changes the Transfer Tax World, Pillsbury attorneys Craig Becker, Richard Nielsen, Breann Robowski and Dianne Sweeney discuss the California Supreme Court’s decision in 926 North Armore Avenue, LLC v. County of Los Angeles:

• Court concludes counties and cities are permitted to impose a documentary transfer tax on entity transfers that result in a Proposition 13 “change in ownership” under California Revenue & Taxation Code § 64(c) or 64(d).