Documentary Transfer Tax
The City of Richmond receives Documentary Transfer Tax from the County for the sale of properties in Richmond. As one of the most volatile revenue stream s for the City, the amounts received can vary month- to-month from the low $300 thousand to the highs of $3 million. A few large sales can widely swing the revenues.
In FY2023-24, the City budgeted $13.3 million in the Transfer Tax category and only received $8.6 million, equating to a difference of $4.7 million.
As a reminder, Measure H, approved by Richmond voters in November 2018, went into effect at the end of December 2018. M easure H increased the real estate transfer tax from 0.7 percent to 1.25 percent for properties with a sale price of over $1 million but below $3 million, 2.5 percent for properties with a sale price between $3 - $10 million, and
3.0 percent for properties with a sale price over $10 million.
The charts below highlight the volatility of this revenue stream. Table 1 shows the total Transfer Tax received each fiscal year since the passage of Measure H with a high of nearly $20 million in FY2020-21.
T
able 1
Table 2 shows each monthly payment going back to FY2018- 19. Of note are the very high payments received certain months, including 4 monthly payments over $3 million during these past 6 years while at the same time seeing 8 payments under $400 thousand.
FY2018-19 FY2019-20 FY2020-21 FY2021-22 FY2022-23 FY2023-24 Transfer Tax 8,016,886 8,722,257 19,866,835 18,612,107 10,416,847 8,600,534 -
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
Transfer Tax
Attachment 4 – Documentary Transfer Tax Report for June 2024 1 of 4
Table 2
July August September October November December January February March April May June FY2018-19 498,037 508,343 348,117 440,189 462,542 437,400 225,541 487,419 809,257 733,536 1,524,100 1,542,404 FY2019-20 475,202 514,221 489,633 581,608 406,167 676,059 2,578,200 344,488 460,000 1,345,764 444,160 406,756 FY2020-21 1,464,754 529,696 5,088,852 508,011 2,522,185 883,461 569,095 357,803 621,601 4,312,603 2,130,037 878,737 FY2021-22 784,937 642,394 3,405,874 1,620,476 689,214 701,028 419,082 944,682 3,047,276 926,132 1,675,993 3,755,021 FY2022-23 1,086,045 520,354 517,718 580,839 1,250,243 785,993 682,509 244,636 2,034,519 970,348 1,253,543 490,102 FY2023-24 465,705 425,650 368,966 507,066 1,357,082 407,488 356,203 336,787 439,035 582,710 627,785 2,726,059 -
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
Documentary Transfer Tax
Attachment 4 – Documentary Transfer Tax Report for June 2024 2 of 4
Action City Split
$490.00
$4,991.00
$2,982.00
$6,860.00
$4,585.00
$3,395.00
$4,900.00
$4,284.00
$5,635.00
$1,095,000.00
$742.00
$3,955.00
$13,125.00
$6,265.00
$3,605.00
$4,095.00
$4,900.00
$4,445.00
$5,684.00
$6,020.00
$21,162.50
$4,480.00
$4,151.00
$2,590.00
$4,676.00
$2,695.00
$5,173.00
$13,662.50
$17,812.50
$13,187.50
$5,852.00
$14,812.50
$4,270.00
$14,375.00
$2,555.00
$3,955.00
$2,800.00
$4,025.00
$13,437.50
$3,696.00
$4,585.00
$14,887.50
$4,305.00
$4,900.00
$4,900.00
$4,445.00
$3,360.00
$6,202.00
$2,450.00
2024-0057067 06/14/2024 16:47 06/14/2024 16:47:00
2024-0057285 06/17/2024 09:47 06/17/2024 09:47:00
2024-0057338 06/17/2024 10:39 06/17/2024 10:39:00
2024-0056956 06/14/2024 15:23 06/14/2024 15:23:00
2024-0057027 06/14/2024 16:29 06/14/2024 16:29:00
2024-0057033 06/14/2024 16:32 06/14/2024 16:32:00
2024-0056579 06/14/2024 09:16 06/14/2024 09:16:00
2024-0056632 06/14/2024 10:22 06/14/2024 10:22:00
2024-0056796 06/14/2024 12:51 06/14/2024 12:51:00
2024-0056402 06/13/2024 14:31 06/13/2024 14:31:00
2024-0056428 06/13/2024 15:14 06/13/2024 15:14:00
2024-0056546 06/14/2024 08:41 06/14/2024 08:41:00
2024-0056075 06/13/2024 09:25 06/13/2024 09:25:00
2024-0056388 06/13/2024 14:17 06/13/2024 14:17:00
2024-0056397 06/13/2024 14:26 06/13/2024 14:26:00
2024-0055876 06/12/2024 13:59 06/12/2024 13:59:00
2024-0055891 06/12/2024 14:05 06/12/2024 14:05:00
2024-0055917 06/12/2024 14:20 06/12/2024 14:20:00
2024-0055438 06/11/2024 16:06 06/11/2024 16:06:00
2024-0055593 06/12/2024 10:17 06/12/2024 10:17:00
2024-0055850 06/12/2024 13:51 06/12/2024 13:51:00
2024-0054236 06/10/2024 07:45 06/10/2024 07:45:00
2024-0055102 06/11/2024 11:32 06/11/2024 11:32:00
2024-0055107 06/11/2024 11:48 06/11/2024 11:48:00
2024-0054065 06/07/2024 14:27 06/07/2024 14:27:00
2024-0054147 06/07/2024 15:06 06/07/2024 15:06:00
2024-0054151 06/07/2024 15:06 06/07/2024 15:06:00
2024-0053931 06/07/2024 12:35 06/07/2024 12:35:00
2024-0053992 06/07/2024 13:50 06/07/2024 13:50:00
2024-0053999 06/07/2024 13:55 06/07/2024 13:55:00
2024-0053550 06/06/2024 14:34 06/06/2024 14:34:00
2024-0053554 06/06/2024 14:40 06/06/2024 14:40:00
2024-0053710 06/07/2024 09:00 06/07/2024 09:00:00
2024-0053427 06/06/2024 12:02 06/06/2024 12:02:00
2024-0053454 06/06/2024 12:34 06/06/2024 12:34:00
2024-0053464 06/06/2024 12:39 06/06/2024 12:39:00
2024-0053271 06/06/2024 08:28 06/06/2024 08:28:14
2024-0053369 06/06/2024 10:21 06/06/2024 10:21:00
2024-0053393 06/06/2024 11:20 06/06/2024 11:20:00
2024-0053050 06/05/2024 13:01 06/05/2024 13:01:00
2024-0053132 06/05/2024 14:31 06/05/2024 14:31:00
2024-0053209 06/06/2024 07:45 06/06/2024 07:45:00
2024-0052502 06/04/2024 11:09 06/04/2024 11:09:00
2024-0052723 06/04/2024 16:08 06/04/2024 16:08:00
2024-0052789 06/05/2024 08:05 06/05/2024 08:05:00
2024-0052224 06/03/2024 16:18 06/03/2024 16:18:00
2024-0052369 06/04/2024 08:49 06/04/2024 08:49:00
2024-0052443 06/04/2024 09:44 06/04/2024 09:44:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0052111 06/03/2024 15:04 06/03/2024 15:04:00
KRISTIN B. CONNELLY, CLERK-RECORDER
County of Contra Costa
555 Escobar Street * Martinez, CA 94553
Recorder (925) 335-7900 * Fax (925) 335-7926
Transfer Tax Monthly Detail by City
Report Date & Time
07/05/2024 14:46
City: Rm Richmond
For Month: June 2024
Attachment 4 – Documentary Transfer Tax Report for June 2024 3 of 4
$4,690.00
$2,779.00
$4,340.00
$6,993.00
$12,812.50
$4,585.00
$4,732.00
$3,311.00
$4,760.00
$3,150.00
$5,600.00
$2,940.00
$4,865.00
$4,550.00
$5,320.00
$3,640.00
$22,850.00
$4,690.00
$12,675.00
$3,150.00
$4,830.00
$1,085.00
$2,723.00
$2,835.00
$3,437.00
$2,660.00
$6,986.00
$6,986.00
$6,986.00
$102,875.00
$4,200.00
$6,643.00
$6,020.00
$1,050,000.00
$2,726,059.00
Total $ of Cap docs 2,673,930.00$ $2,726,059.00
Total Count of Cap docs 63 83 Count:
2024-0062301 06/28/2024 16:17 06/28/2024 16:17:00
Total For Richmond
Total:
2024-0062179 06/28/2024 14:39 06/28/2024 14:39:00
2024-0062257 06/28/2024 15:29 06/28/2024 15:29:00
2024-0062276 06/28/2024 15:59 06/28/2024 15:59:00
2024-0061995 06/28/2024 11:37 06/28/2024 11:37:00
2024-0062020 06/28/2024 12:01 06/28/2024 12:01:00
2024-0062167 06/28/2024 14:33 06/28/2024 14:33:00
2024-0061300 06/27/2024 11:27 06/27/2024 11:27:00
2024-0061419 06/27/2024 13:20 06/27/2024 13:20:00
2024-0061987 06/28/2024 11:31 06/28/2024 11:31:00
2024-0061040 06/26/2024 16:10 06/26/2024 16:10:00
2024-0061044 06/26/2024 16:19 06/26/2024 16:19:00
2024-0061140 06/27/2024 08:41 06/27/2024 08:41:00
2024-0060659 06/26/2024 10:12 06/26/2024 10:12:00
2024-0060779 06/26/2024 11:47 06/26/2024 11:47:00
2024-0060782 06/26/2024 11:48 06/26/2024 11:48:00
2024-0060234 06/25/2024 10:24 06/25/2024 10:24:00
2024-0060450 06/25/2024 15:28 06/25/2024 15:28:00
2024-0060474 06/25/2024 16:28 06/25/2024 16:28:00
2024-0059770 06/24/2024 11:47 06/24/2024 11:47:00
2024-0059947 06/24/2024 15:17 06/24/2024 15:17:00
2024-0059965 06/24/2024 15:33 06/24/2024 15:33:00
2024-0059370 06/21/2024 15:11 06/21/2024 15:11:00
2024-0059505 06/24/2024 08:18 06/24/2024 08:18:00
2024-0059547 06/24/2024 08:51 06/24/2024 08:51:00
2024-0058741 06/20/2024 15:15 06/20/2024 15:15:00
2024-0058888 06/21/2024 08:19 06/21/2024 08:19:00
2024-0059188 06/21/2024 12:17 06/21/2024 12:17:00
2024-0058566 06/20/2024 11:39 06/20/2024 11:39:00
2024-0058698 06/20/2024 14:46 06/20/2024 14:46:00
2024-0058720 06/20/2024 14:59 06/20/2024 14:59:00
2024-0057454 06/17/2024 13:44 06/17/2024 13:44:00
2024-0057565 06/17/2024 15:24 06/17/2024 15:24:00
2024-0057955 06/18/2024 12:37 06/18/2024 12:37:00
Attachment 4 – Documentary Transfer Tax Report for June 2024 4 of 4