Opponents of Boething Tree Land’s sale to Dignity Memorial for a cemetery on Valley Circle Blvd. are pointing to Los Angeles’ “Mansion Tax” as a possible reason to have the sale examined.
The Mansion Tax, or Measure ULA, imposes a 4% transfer tax on real property sales between $5 million and $10 million, and a 5% tax on sales of $10 million or more.
Attorney Scott Tepper, representing the opponents, has said that the Boething sale may violate Measure ULA as the property was sold in five parcels that were each less than $5 million, for a total sale of $10,245,500.
Title to the entire Boething Treeland did consist of five different parcels, the largest being 10.99 acres that sold for $3,961,000 and the smallest being 1.29 acres that sold for $923,500.
Opponents are calling for city officials to review the transaction.
