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 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 a mounts.
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.
Attachment 4 – Documentary Transfer Tax Report for August 2024
Action City Split
$6,125.00
$3,682.00
$5,110.00
$6,580.00
$5,775.00
$6,510.00
$4,270.00
$2,730.00
$5,593.00
$2,800.00
$13,562.50
$4,480.00
$2,800.00
$4,235.00
$3,395.00
$2,905.00
$2,450.00
$1,316.00
$1,316.00
$2,520.00
$4,970.00
$3,255.00
$1,995.00
$3,010.00
$3,500.00
$3,675.00
$4,305.00
$1,400.00
$3,430.00
$2,800.00
$12,812.50
$4,501.00
$4,095.00
$5,775.00
$13,187.50
$3,080.00
$469.00
$5,600.00
$15,125.00
$6,265.00
$6,370.00
$6,265.00
$5,495.00
$3,612.00
$3,570.00
$4,620.00
$4,445.00
$3,010.00
$1,400.00
2024-0081883 08/22/2024 11:50 08/22/2024 11:50:00
2024-0082248 08/23/2024 08:42 08/23/2024 08:42:00
2024-0082392 08/23/2024 10:34 08/23/2024 10:34:00
2024-0081028 08/20/2024 14:43 08/20/2024 14:43:00
2024-0081155 08/21/2024 08:29 08/21/2024 08:29:00
2024-0081575 08/21/2024 14:25 08/21/2024 14:25:00
2024-0080791 08/20/2024 10:57 08/20/2024 10:57:00
2024-0080887 08/20/2024 11:44 08/20/2024 11:44:00
2024-0080902 08/20/2024 11:59 08/20/2024 11:59:00
2024-0080171 08/16/2024 16:09 08/16/2024 16:09:00
2024-0080326 08/19/2024 10:36 08/19/2024 10:36:00
2024-0080462 08/19/2024 12:52 08/19/2024 12:52:00
2024-0079989 08/16/2024 12:21 08/16/2024 12:21:00
2024-0080061 08/16/2024 13:37 08/16/2024 13:37:00
2024-0080098 08/16/2024 14:17 08/16/2024 14:17:00
2024-0079575 08/16/2024 08:18 08/16/2024 08:18:00
2024-0079877 08/16/2024 10:50 08/16/2024 10:50:00
2024-0079959 08/16/2024 11:42 08/16/2024 11:42:00
2024-0079330 08/15/2024 11:25 08/15/2024 11:25:00
2024-0079437 08/15/2024 12:39 08/15/2024 12:39:00
2024-0079461 08/15/2024 13:10 08/15/2024 13:10:00
2024-0079041 08/14/2024 15:29 08/14/2024 15:29:00
2024-0079066 08/14/2024 15:54 08/14/2024 15:54:00
2024-0079109 08/15/2024 08:52 08/15/2024 08:52:00
2024-0078167 08/13/2024 11:00 08/13/2024 11:00:00
2024-0078826 08/14/2024 12:58 08/14/2024 12:58:00
2024-0078948 08/14/2024 13:52 08/14/2024 13:52:00
2024-0078012 08/12/2024 16:44 08/12/2024 16:44:00
2024-0078045 08/13/2024 09:00 08/13/2024 09:00:00
2024-0078058 08/13/2024 09:30 08/13/2024 09:30:00
2024-0077331 08/09/2024 15:39 08/09/2024 15:39:00
2024-0077385 08/09/2024 16:08 08/09/2024 16:08:00
2024-0077407 08/09/2024 16:14 08/09/2024 16:14:00
2024-0076911 08/08/2024 15:43 08/08/2024 15:43:00
2024-0077049 08/09/2024 09:50 08/09/2024 09:50:00
2024-0077318 08/09/2024 14:51 08/09/2024 14:51:00
2024-0076662 08/08/2024 11:02 08/08/2024 11:02:00
2024-0076768 08/08/2024 12:33 08/08/2024 12:33:00
2024-0076849 08/08/2024 15:24 08/08/2024 15:24:00
2024-0075388 08/05/2024 16:14 08/05/2024 16:14:00
2024-0076137 08/07/2024 12:00 08/07/2024 12:00:00
2024-0076388 08/07/2024 15:58 08/07/2024 15:58:00
2024-0075260 08/05/2024 14:47 08/05/2024 14:47:00
2024-0075345 08/05/2024 15:58 08/05/2024 15:58:00
2024-0075363 08/05/2024 16:05 08/05/2024 16:05:00
2024-0074204 08/01/2024 13:44 08/01/2024 13:44:00
2024-0074265 08/01/2024 15:16 08/01/2024 15:16:00
2024-0074594 08/02/2024 09:37 08/02/2024 09:37:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0074131 08/01/2024 12:48 08/01/2024 12:48:00
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
09/04/2024 14:48
City: Rm Richmond
For Month: August 2024
Attachment 4 – Documentary Transfer Tax Report for August 2024
$13,750.00
$4,690.00
$3,150.00
$4,725.00
$4,326.00
$3,920.00
$3,850.00
$12,750.00
$5,320.00
$2,527.00
$6,475.00
$3,430.00
$5,887.00
$4,515.00
$4,340.00
$4,550.00
$6,720.00
$13,125.00
$5,495.00
$6,916.00
$4,900.00
$2,884.00
$2,730.00
$4,970.00
$17,500.00
$4,550.00
$3,675.00
$5,110.00
$3,850.00
$4,340.00
$2,625.00
$4,606.00
$3,990.00
$3,752.00
$420,134.50
$420,134.50
Total Count of Cap docs Count: 83
$349,637.50
56 2024-0085574 08/30/2024 13:24 08/30/2024 13:24:00
Total:Total $ of Cap docs
2024-0085424 08/30/2024 11:25 08/30/2024 11:25:00
2024-0085444 08/30/2024 11:38 08/30/2024 11:38:00
2024-0085548 08/30/2024 12:49 08/30/2024 12:49:00
2024-0085228 08/30/2024 08:58 08/30/2024 08:58:00
2024-0085324 08/30/2024 09:35 08/30/2024 09:35:00
2024-0085418 08/30/2024 11:17 08/30/2024 11:17:00
2024-0084424 08/28/2024 16:20 08/28/2024 16:20:00
2024-0085018 08/29/2024 15:08 08/29/2024 15:08:00
2024-0085023 08/29/2024 15:11 08/29/2024 15:11:00
2024-0084244 08/28/2024 13:01 08/28/2024 13:01:00
2024-0084319 08/28/2024 14:22 08/28/2024 14:22:00
2024-0084363 08/28/2024 15:07 08/28/2024 15:07:00
2024-0083831 08/27/2024 16:53 08/27/2024 16:53:00
2024-0084077 08/28/2024 11:10 08/28/2024 11:10:00
2024-0084234 08/28/2024 12:50 08/28/2024 12:50:00
2024-0083615 08/27/2024 12:56 08/27/2024 12:56:00
2024-0083749 08/27/2024 15:25 08/27/2024 15:25:00
2024-0083791 08/27/2024 16:31 08/27/2024 16:31:00
2024-0083472 08/27/2024 09:41 08/27/2024 09:41:00
2024-0083542 08/27/2024 11:30 08/27/2024 11:30:00
2024-0083568 08/27/2024 12:08 08/27/2024 12:08:00
2024-0083229 08/26/2024 14:05 08/26/2024 14:05:30
2024-0083243 08/26/2024 14:22 08/26/2024 14:22:00
2024-0083375 08/26/2024 15:51 08/26/2024 15:51:00
2024-0082734 08/23/2024 14:24 08/23/2024 14:24:00
2024-0082857 08/23/2024 15:51 08/23/2024 15:51:00
2024-0083097 08/26/2024 11:39 08/26/2024 11:39:00
2024-0082613 08/23/2024 13:51 08/23/2024 13:51:00
2024-0082628 08/23/2024 14:03 08/23/2024 14:03:00
2024-0082703 08/23/2024 14:14 08/23/2024 14:14:00
2024-0082446 08/23/2024 11:17 08/23/2024 11:17:00
2024-0082460 08/23/2024 11:27 08/23/2024 11:27:00
2024-0082588 08/23/2024 13:28 08/23/2024 13:28:00
Attachment 4 – Documentary Transfer Tax Report for August 2024