'Shark Tank' star Barbara Corcoran is not a fan of Los Angeles' new 'mansion tax' which is about to go into effect.
Los Angeles' controversial new"mansion tax" is about to kick in, forcing sellers to pay more money than ever before if their property sells for at least $5 million ... and
The new law, which passed on the ballot back in November, slaps a 4% tax on homes selling for $5 million and up, and places a 5.5% tax on properties selling above $10 mil.Barbara's prediction is the housing market will slow to a crawl ... with rich people choosing to buy homes in cities and states with friendly tax laws on the books, particularly down south.
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