Answer:
$43,875.15
Step-by-step explanation:
Given:
The property is sold in Redondo Beach
cost of the property sold = $13,295,500
Now,
In Redondo Beach
The County Documentary Transfer Tax rate = 0.11%
and, the City Documentary Transfer Tax = 0.22%
therefore,
The Total Documentary Transfer Tax rate for the property in Redondo Beach
= County Documentary Transfer Tax + City Documentary Transfer Tax
= 0.11% + 0.22%
= 0.33%
Hence,
The documentary transfer tax
= Total tax rate × Cost of the property sold
= 0.33% × $13,295,500
= 0.0033 × $13,295,500
= $43,875.15
