Josh Altman has been appearing regularly on Bravo’s Million Dollar Listing for several years now, where the Los Angeles-based realtor shows exactly that: multimillion-dollar homes for sale in the city of angels. But the Douglas Elliman realtor has a message about the so-called mansion tax on every property sale above $5 million in Los Angeles County: “We’re not talking about these crazy mansions that you see on MTV Cribs.”
A $5 million house “may be a mansion in Minnesota,” he added, “that’s not a mansion in L.A.” For those unfamiliar with Los Angeles’ extremely stratified housing market, Altman explained that what you get for $5 million in most of Los Angeles “could be a four-bedroom, 4,000-square-foot regular house that you would find anywhere in America, but it just happens to be more expensive because it’s in L.A.”
