City Transfer Tax Changes in Alameda and Contra Costa Counties
Effective January 1, 2019
Yes, you read that right: City transfer tax changes are effective as of January 1, 2019.
It is going to be a lot more expensive on the “buy in” for homes over a million dollars in Oakland, Richmond and Berkeley.
Even though the city of Hayward’s city transfer tax has doubled to $8.50 per thousand, it is still a lot less than other nearby areas.
ALAMEDA COUNTY
City of Berkeley, Measure P:
City transfer tax has been increased from 1.5% = $15.00 per $1,000.00 to 2.5% = $25.00 per $1,000.00 for property sales and transfers over $1.5 million for ten years, adjusted annually to capture the top approximately 33% of transfers over $1.5 million.
City of Oakland, Measure X:
City transfer tax is now based on 4 rates ranging from 1% = $10.00 per $1,000.00 to 2.5% = $25.00 per $1,000.00.
1. Based on full value up to $300,000.00 1% ($10.00 per $1,000.00)
2. Based on full value over $300,000.00 to $2 Million 1.5% ($15.00 per $1,000.00)
3. Based on full value over $2 Million to $5 Million 1.75% ($17.50 per $1,000.00)
4. Based on full value over $5 Million 2.5% ($25.00 per $1,000.00)
City of Hayward, Measure T:
City transfer tax has been increased from $4.50 per $1,000.00 to $8.50 per $1,000.00.
CONTRA COSTA COUNTY
City of El Cerrito, Measure V:
Implements a new City Transfer Tax for El Cerrito in the amount of $12.00 per $1,000.00 based on full value transfer.
City of Richmond, Measure H:
City Transfer Tax is now based on 4 rates ranging from .7% = $7.00 per $1,000.00 up to
3% = $30.00 per $1,000.00
1. Based on full value below $1 Million .7% ($ 7.00 per $1,000.00)
2. Based on full value between $1 Million to $3 Million 1.25% ($12.50 per $1,000.00)
3. Based on full value between $3 Million to $10 Million 2.5% ($25.00 per $1,000.00)
4. Based on full value over $10 Million 3% ($30.00 per $1,000.00)
If you own property and want to sell it, or are interested in purchasing Real Estate in the Bay Area, please reach out so we can find out how we can best help you achieve your goals for 2019.
The bay area continues to be a popular place to call home.
If you are ready to search for your next property, or are looking for your home value, visit:www.searchalleastbayhomes.com
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