*Real estate transfer “flip tax” calculated as 1% of the sales price on properties bought and sold within a 24 month period.
**Profit calculated as sale price minus purchase price.
In addition, to make sure that we are not proposing a “tax” on property owners whose sales only cover the costs of renovation, we have excluded sales with under $100,000 profit in 24 months. We have also excluded sales of more than 500% of the purchase price 24 months prior so that outliers or data errors would not skew our findings.
Why the circle? Using boundaries such as those belonging to census tracts, neighborhoods, or council districts to aggregate data provides one picture (or story) with the data, but not the only picture. The circle allows you to navigate the data without boundaries drawn by government officials, city planners, or realtors. To navigate the data by council district, go to our interactive choropleth map.
For more information, visit landscapesofprofit.com