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 for the Transfer Tax category and only received $8.6 million, equating to a difference of $4.7 million.
For FY2024-25, the City has budgeted $7.4 million. The difference between the budgeted amounts in these two years is that in the current budget, staff did not include sales over $10 million. These few and unpredictable transactions skew the monthly sales amounts.
Removing these transactions from the calculation yields more predictable and obtainable amounts to be used for budgeting.
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 table below shows each monthly payment going back to FY2018- 19 and highlights the volatility of this revenue stream. Of note are the very high payments received certain months which are shown as significant peaks in the chart.
Attachment 4 – Documentary Transfer Tax Report for July 2024
Action City Split
$4,270.00
$1,080,000.00
$1,710,000.00
$1,253.00
$13,750.00
$15,687.50
$2,940.00
$3,710.00
$3,815.00
$4,655.00
$4,760.00
$4,060.00
$3,535.00
$6,895.00
$4,620.00
$4,501.00
$5,215.00
$4,823.00
$13,750.00
$3,570.00
$1,400.00
$4,830.00
$6,300.00
$23,687.50
$4,900.00
$3,318.00
$5,243.00
$5,355.00
$2,975.00
$5,180.00
$24,375.00
$4,690.00
$3,710.00
$3,878.00
$4,725.00
$4,725.00
$5,537.00
$2,100.00
$13,312.50
$5,075.00
$4,760.00
$462.00
$4,270.00
$882.00
$6,720.00
$3,647.00
$4,305.00
$4,550.00
$3,213.00
2024-0068761 07/18/2024 12:34 07/18/2024 12:34:00
2024-0068827 07/18/2024 14:23 07/18/2024 14:23:00
2024-0069304 07/19/2024 12:06 07/19/2024 12:06:00
2024-0068662 07/18/2024 10:34 07/18/2024 10:34:00
2024-0068673 07/18/2024 10:59 07/18/2024 10:59:00
2024-0068724 07/18/2024 12:09 07/18/2024 12:09:00
2024-0068129 07/17/2024 10:39 07/17/2024 10:39:22
2024-0068382 07/17/2024 14:21 07/17/2024 14:21:00
2024-0068528 07/18/2024 08:15 07/18/2024 08:15:00
2024-0067972 07/17/2024 07:59 07/17/2024 07:59:00
2024-0068091 07/17/2024 09:23 07/17/2024 09:23:00
2024-0068094 07/17/2024 09:25 07/17/2024 09:25:00
2024-0067620 07/16/2024 10:19 07/16/2024 10:19:00
2024-0067621 07/16/2024 10:19 07/16/2024 10:19:00
2024-0067636 07/16/2024 10:33 07/16/2024 10:33:00
2024-0067212 07/15/2024 11:42 07/15/2024 11:42:00
2024-0067422 07/15/2024 15:25 07/15/2024 15:25:00
2024-0067427 07/15/2024 15:30 07/15/2024 15:30:00
2024-0066925 07/12/2024 14:33 07/12/2024 14:33:00
2024-0067106 07/15/2024 09:40 07/15/2024 09:40:00
2024-0067203 07/15/2024 11:39 07/15/2024 11:39:00
2024-0066739 07/12/2024 10:36 07/12/2024 10:36:00
2024-0066743 07/12/2024 10:38 07/12/2024 10:38:00
2024-0066872 07/12/2024 12:52 07/12/2024 12:52:00
2024-0066676 07/12/2024 09:48 07/12/2024 09:48:00
2024-0066708 07/12/2024 10:15 07/12/2024 10:15:00
2024-0066733 07/12/2024 10:32 07/12/2024 10:32:00
2024-0066334 07/11/2024 13:37 07/11/2024 13:37:00
2024-0066349 07/11/2024 13:45 07/11/2024 13:45:00
2024-0066607 07/12/2024 08:56 07/12/2024 08:56:00
2024-0065697 07/10/2024 14:00 07/10/2024 14:00:00
2024-0066164 07/11/2024 11:26 07/11/2024 11:26:00
2024-0066224 07/11/2024 11:58 07/11/2024 11:58:00
2024-0065482 07/10/2024 08:37 07/10/2024 08:37:00
2024-0065531 07/10/2024 09:38 07/10/2024 09:38:00
2024-0065684 07/10/2024 13:49 07/10/2024 13:49:00
2024-0064802 07/08/2024 13:54 07/08/2024 13:54:00
2024-0065182 07/09/2024 12:30 07/09/2024 12:30:00
2024-0065480 07/10/2024 08:37 07/10/2024 08:37:00
2024-0063704 07/03/2024 13:11 07/03/2024 13:11:00
2024-0063750 07/03/2024 13:55 07/03/2024 13:55:00
2024-0064683 07/08/2024 11:01 07/08/2024 11:01:00
2024-0063180 07/02/2024 14:00 07/02/2024 14:00:00
2024-0063232 07/02/2024 14:42 07/02/2024 14:42:00
2024-0063677 07/03/2024 12:54 07/03/2024 12:54:00
2024-0062683 07/01/2024 13:36 07/01/2024 13:36:00
2024-0062781 07/01/2024 15:42 07/01/2024 15:42:00
2024-0063149 07/02/2024 13:48 07/02/2024 13:48:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0062612 07/01/2024 12:27 07/01/2024 12:27:00
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
08/08/2024 09:10
City: Rm Richmond
For Month: July 2024
Attachment 4 – Documentary Transfer Tax Report for July 2024
$4,235.00
$3,717.00
$4,200.00
$5,355.00
$4,235.00
$3,710.00
$13,250.00
$3,675.00
$5,740.00
$3,360.00
$5,845.00
$3,885.00
$25,000.00
$840.00
$980.00
$6,475.00
$12,812.50
$15,237.50
$2,800.00
$3,710.00
$5,166.00
$3,150.00
$2,100.00
$3,395.00
$3,710.00
$2,583.00
$3,052.00
$81,250.00
$6,475.00
$2,310.00
$15,000.00
$2,219.00
$4,487.00
$3,570.00
$12,937.50
$2,240.00
$1,365.00
$5,334.00
$3,353,340.00
Total $ of Cap docs 3,293,728.00$ $3,353,340.00
Total Count of Cap docs 62 87
Total:
Count:
2024-0073535 07/31/2024 11:10 07/31/2024 11:10:00
2024-0073665 07/31/2024 13:37 07/31/2024 13:37:00
Total For Richmond
2024-0073285 07/30/2024 15:34 07/30/2024 15:34:00
2024-0073368 07/31/2024 08:08 07/31/2024 08:08:00
2024-0073515 07/31/2024 10:44 07/31/2024 10:44:58
2024-0073109 07/30/2024 11:57 07/30/2024 11:57:00
2024-0073127 07/30/2024 12:05 07/30/2024 12:05:56
2024-0073159 07/30/2024 12:32 07/30/2024 12:32:00
2024-0072914 07/29/2024 16:32 07/29/2024 16:32:00
2024-0072991 07/30/2024 09:45 07/30/2024 09:45:00
2024-0072993 07/30/2024 09:47 07/30/2024 09:47:00
2024-0072854 07/29/2024 15:02 07/29/2024 15:02:00
2024-0072879 07/29/2024 15:57 07/29/2024 15:57:00
2024-0072893 07/29/2024 16:20 07/29/2024 16:20:00
2024-0072159 07/26/2024 14:19 07/26/2024 14:19:00
2024-0072193 07/26/2024 14:58 07/26/2024 14:58:00
2024-0072558 07/29/2024 10:03 07/29/2024 10:03:00
2024-0071787 07/26/2024 09:06 07/26/2024 09:06:00
2024-0071901 07/26/2024 10:18 07/26/2024 10:18:00
2024-0072109 07/26/2024 12:57 07/26/2024 12:57:00
2024-0071328 07/25/2024 11:51 07/25/2024 11:51:00
2024-0071517 07/25/2024 14:05 07/25/2024 14:05:00
2024-0071601 07/25/2024 14:30 07/25/2024 14:30:00
2024-0071023 07/24/2024 12:43 07/24/2024 12:43:00
2024-0071137 07/24/2024 15:58 07/24/2024 15:58:00
2024-0071139 07/24/2024 15:58 07/24/2024 15:58:00
2024-0070512 07/23/2024 14:30 07/23/2024 14:30:00
2024-0070675 07/24/2024 08:09 07/24/2024 08:09:00
2024-0070974 07/24/2024 11:42 07/24/2024 11:42:00
2024-0070142 07/23/2024 11:31 07/23/2024 11:31:00
2024-0070191 07/23/2024 12:02 07/23/2024 12:02:00
2024-0070492 07/23/2024 14:16 07/23/2024 14:16:00
2024-0069927 07/23/2024 08:23 07/23/2024 08:23:00
2024-0069951 07/23/2024 08:44 07/23/2024 08:44:00
2024-0069957 07/23/2024 08:46 07/23/2024 08:46:00
2024-0069509 07/19/2024 13:59 07/19/2024 13:59:00
2024-0069554 07/19/2024 14:31 07/19/2024 14:31:00
2024-0069584 07/19/2024 14:45 07/19/2024 14:45:00
Attachment 4 – Documentary Transfer Tax Report for July 2024