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1 / I’m puzzled by the potentially low ROI on the #Culvercity Property Transfer Tax Increase Proposal. Here’s my understanding so far:
2 / At the current rate, the Property Transfer Tax generated $4M this year. The proposed increase applied to last year's home sales would have generated $14M, but most of that increase comes from 4 transactions > $30M (out of the total 447 total transactions).
3 / I don’t have historical data, but it seems risky to bet on 1% outliers. Removing these transactions (h/t Culver City staff for this analysis!), we’re left with $5 - $6M in revenue, which is only + $1-$2M increase on top of base rates... 
