Formula One Heiress Petra Ecclestone Lists Los Angeles Mansion
The couple paid $30.5 million for the property in 2023, then renovated it and redid the landscaping. During the January fires, they fled to the Beverly Hills Hotel and later relocated temporarily to London, the English couple said. While their home was spared, two of their children's schools were destroyed, along with much of their local community in neighboring Pacific Palisades. The children have been home-schooled since the fires, Palmer said, and finding a new school for them will help dictate the location of their new home.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Property tax across Europe: Which countries collect the most, and what's their share of total tax?
Spain is considering a 100% tax on homes bought by non-EU buyers. While the goal is to ease the country's housing problem, property tax is a major source of income in many European countries. According to the European Commission, property tax as a share of GDP in the EU ranges from 0.3% in Czechia and Estonia to 3.7% in France in 2023. The EU average is 1.9%. But how much property tax do governments collect across Europe? What share of total tax revenue comes from property taxes? And how much does real estate transfer tax amount to as a percentage of GDP? Euronews Business takes a closer look at property tax revenues across Europe. What share of GDP does property tax make up? In the EU, property tax contributes to the highest share of GDP in France (3.7%) and the lowest in Czechia and Estonia (both 0.3%). When European Free Trade Association (EFTA) countries, the UK, and Turkey are included—using some OECD data—the UK ranks slightly above France, though both are around 3.7%. Belgium is also above 3%, at 3.2%. Spain ranks fifth at 2.5%, followed by Greece at 2.7%. Other countries with a share above 2% include Iceland, Luxembourg, Denmark, Switzerland, Italy, and Portugal. Property tax accounts for less than 1% of GDP in nearly half of the 32 countries on the list. It is especially low in Slovakia, Lithuania, Estonia, and Czechia, all below 0.5%. Among Europe's five largest economies, Germany has a significantly lower share at 1% compared with the others. Italy ranks fourth at 2.1%, while France and the UK top the list. The chart above shows that Northwestern Europe collects a higher percentage of their GDP through property tax, while Eastern Europe and the Baltics collects a lower share. In Southern Europe, the picture is more mixed, though often on the higher side. According to the OECD, property taxes include all recurrent and non-recurrent levies on the use, ownership, or transfer of property. They cover taxes on immovable property or net wealth, inheritance and gift taxes, and taxes on financial and capital transactions. Related Where in Europe are workers losing ground as taxes rise faster than wages? Where did house prices and rents rise the most in 2024 across Europe? What about revenues from property taxes? The UK collected the most property tax revenue in 2023 at €115 billion (£100bn), followed by France at €104.5 billion. These two countries dominate property tax revenues, with third-place Italy collecting just €45.3 billion. Germany and Spain complete the top five, collecting €41.4 billion and €36.8 billion respectively. The EU total stands at €318.8 billion. Belgium (€18.8 billion), Switzerland (€17.9 billion), the Netherlands (€14.4 billion), and Poland (€10.7 billion) also collected over €10 billion in property tax revenue in 2023. In 10 EU countries, property tax revenue is below €1 billion, with Estonia the lowest at €110 million. Property tax as a share of total taxation The share of property taxes making up total taxation varies widely across Europe. In 2023, in the EU, it ranges from 0.8% in Estonia and Czechia to 8.4% in France, according to the European Commission. The EU average was 4.7%. In addition to France, seven other EU countries had property tax shares above 5%: Belgium (7.4%), Greece (7%), Spain (6.7%), Portugal (5.9%), Luxembourg (5.7%), Italy (5.1%), and Denmark (5.1%). In Germany, property taxes account for just 2.5% of total taxation. Related Global personal wealth: Which countries have the highest shares in Europe? Top UK CEOs richer than ever: FTSE 100 boss pay breaks records for third year Shares of property transfer tax across Europe Property transfer taxes, expressed as a share of GDP, indicate the importance of real estate sales as a source of government revenue in some countries. These taxes apply to financial and capital transactions, mainly involving buying, selling, and stamp duties. According to the OECD, this share was 1% of GDP in Italy in 2023, followed by Belgium, Portugal, and Spain (all 0.8%). In France, property transfer taxes accounted for 0.7% of GDP, compared with 0.6% in the UK and 0.3% in Germany. Spain's proposal for a property 100% tax for non-EU buyers is sparking debate across Europe. In May 2025, during hearings at the European Parliament, José García Montalvo, Professor of Economics at Pompeu Fabra University in Barcelona, said housing tax policies may not be the most efficient way to address certain problems in the housing market. 'Constant policy changes and lack of coordination between tax policy and housing supply measures undermine the effectiveness of housing tax policies leading to unpredictable market outcomes and persistent problems of affordability,' he said. Diana Hourani from the Personal and Property Taxes Unit of OECD, noted that there is significant scope to enhance the efficiency, equity and revenue potential of many different types of housing taxes in OECD countries. 'Improving these taxes can, in many cases, also ease upward pressure on house prices,' Hourani added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
New photos of questionable Tesla business practice raise concern: 'You'd think ... they'd be able to afford'
Dozens of brand-new Tesla vehicles parked at Long Beach, California, have sparked questions about the company's ability to move inventory and what that could mean for customers. The sight comes as Tesla reports declining U.S. sales and faces growing competition in the electric vehicle market, raising concerns about shifting buyer confidence. What's happening? Photos posted on Reddit's r/RealTesla show rows of brand-new Teslas lining city streets in Long Beach, each with bright red stickers warning that the cars could be towed if not moved within 72 hours. Commenters weighed in, with one Redditor writing, "You'd think with their massive valuation that they'd be able to afford off site parking." This isn't the first time Tesla has been seen storing unsold vehicles in public or temporary parking lots. In 2024, people also shared photos of unsold Teslas in a Detroit parking lot, Fortune reported. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service Cox Automotive also showed the company's declining U.S. sales, which have decreased by over 12% year-over-year, while its share of the EV market slipped to 44.7%. For two consecutive quarters, deliveries have fallen short as published in Tesla's reports. In the second quarter, production reached 410,244 while deliveries fell to 384,122. Why is this concerning? For customers, slower sales could mean delays in receiving vehicles, lower trade-in values, and uncertainty about the brand's long-term stability. From an environmental perspective, any slowdown in EV adoption from a major manufacturer risks slowing the shift away from gas-powered transportation, which is essential for reducing polluting gases. According to Our World in Data, the transportation sector remains the second-largest source of heat-trapping gases. This trend follows other challenges Tesla has faced in recent years, including sudden price cuts that affected resale values and reports of production bottlenecks — all of which have raised questions about the company's market position. What's being done about it? City officials in Long Beach have issued tow notices for the parked vehicles, though it's unclear if they've been moved. Would you buy an EV if there were no tax incentives for getting one? Definitely No way Depends on the sticker price Depends on the range Click your choice to see results and speak your mind. Meanwhile, other automakers are stepping in with their fleet of EV offerings. General Motors has doubled its EV sales volume compared to the previous year, according to Cox Automotive, while the International Energy Agency shared that cheaper battery costs are making EVs more affordable now. That means those interested in switching to EVs now have more options beyond Tesla, if they desire. Despite the hitches Tesla is facing, overall EV adoption is still on track toward a more sustainable future for transport. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
2 hours ago
- CBS News
Civic Center businesses hopeful as San Francisco city employees return to office 4 days a week
Every day at 4 a.m. for the past 19 years, Jason Wu shows up to this kitchen to make donuts and croissants. "This is dollar by dollar to send them to school," said Wu. There's relentless pressure to sell enough each day to provide for his children. "Pressure. I got three little babies at home," said Wu. Gateway Croissant is about a block away from San Francisco City Hall. Most days, it's a 16-hour workday for Wu—but he says it feels like a lot more. "Twenty-four hours, seven days a week," said Wu. Ten thousand city employees in San Francisco are set to return to the office four days a week starting this week, that's the mandate from the mayor's office, but there have been delays and pushback from labor unions representing those workers. Wu's wife Quynh Nguyen noticed an uptick in business when state employees were required to work four days per week at the office in July. But it's the return of even more workers from the private and public sectors they're hoping and still waiting for. "They come to get donuts and coffee for meetings, or birthdays at the office, or even if it's just because it's Friday. It makes a big difference," said Nguyen. Those regular office meetings are when boxes of coffee can be sold, rather than a single cup at a time or one donut per transaction. Quynh says when online food delivery service orders lag, it's a good indicator of how many workers are in the office. "We accept all the online orders, like EzCater or UberEats. Those are for people in the office," said Nguyen. Mayor Daniel Lurie has argued the new policy will enhance government efficiency and boost foot traffic around Civic Center. According to which tracks foot traffic trends, office visits in July were down 34.2% compared to July 2019. But the city also saw a 21.6% year-over-year increase in office foot traffic last month. "San Francisco is still lagging behind other cities in terms of the percentage of people back in the office," said Julian Vogel, who teaches finance at San Jose State University. The new four-day mandate will apply to an estimated 10,000 workers in nonessential roles like accounting, human resources, and legal services. Vogel believes small businesses could see significant boosts. "Now with government and public workers coming back, that incentivizes somebody to open something at that former sandwich shop location, which makes private industry more likely to come back," said Vogel. "Hopefully, people downtown are coming back more days per week so we can get more busy," said Nguyen. He won't be working less, but Wu will be a little more hopeful with the promise of more business on the horizon—even if it means long mornings, days, and nights ahead. "Not just talk. 'You see it on the streets?' We feel it right here," said Wu. The four-day return to office mandate for 10,000 city employees was initially supposed to take effect in late April but was pushed back until now after negotiations with labor unions. According to the mayor's office, about 70% of city workers in critical public safety, health care, transportation, and infrastructure jobs are already working in person full-time.
