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 in certain months which are shown as significant peaks.
Attachment 4 - Documentary Transfer Tax for September 2024
Action City Split
$6,650.00
$5,355.00
$14,375.00
$3,150.00
$2,184.00
$12,500.00
$4,305.00
$4,410.00
$5,110.00
$3,500.00
$4,585.00
$13,775.00
$840.00
$6,160.00
$4,837.00
$4,753.00
$4,900.00
$4,235.00
$5,845.00
$3,395.00
$15,625.00
$3,451.00
$5,376.00
$3,220.00
$3,962.00
$3,080.00
$3,675.00
$4,200.00
$4,193.00
$3,675.00
$4,375.00
$4,445.00
$5,544.00
$2,380.00
$2,884.00
$5,845.00
$2,345.00
$4,984.00
$1,596.00
$13,025.00
$2,205.00
$5,250.00
$3,500.00
$5,950.00
$14,625.00
$3,780.00
$4,130.00
$16,562.50
$4,753.00
2024-0093505 09/23/2024 15:14 09/23/2024 15:14:00
2024-0093768 09/24/2024 10:01 09/24/2024 10:01:00
2024-0093771 09/24/2024 10:04 09/24/2024 10:04:00
2024-0093233 09/23/2024 10:09 09/23/2024 10:09:00
2024-0093319 09/23/2024 12:07 09/23/2024 12:07:00
2024-0093471 09/23/2024 14:38 09/23/2024 14:38:00
2024-0092807 09/20/2024 11:21 09/20/2024 11:21:00
2024-0092969 09/20/2024 14:21 09/20/2024 14:21:00
2024-0093068 09/20/2024 15:55 09/20/2024 15:55:00
2024-0092622 09/20/2024 08:18 09/20/2024 08:18:00
2024-0092779 09/20/2024 10:43 09/20/2024 10:43:00
2024-0092788 09/20/2024 10:59 09/20/2024 10:59:00
2024-0091986 09/18/2024 14:18 09/18/2024 14:18:00
2024-0092228 09/19/2024 08:48 09/19/2024 08:48:00
2024-0092467 09/19/2024 12:30 09/19/2024 12:30:00
2024-0091552 09/17/2024 16:15 09/17/2024 16:15:00
2024-0091639 09/18/2024 09:07 09/18/2024 09:07:00
2024-0091872 09/18/2024 13:08 09/18/2024 13:08:00
2024-0091145 09/17/2024 07:40 09/17/2024 07:40:00
2024-0091274 09/17/2024 09:34 09/17/2024 09:34:00
2024-0091483 09/17/2024 14:39 09/17/2024 14:39:00
2024-0090630 09/13/2024 15:18 09/13/2024 15:18:00
2024-0090971 09/16/2024 11:57 09/16/2024 11:57:00
2024-0091088 09/16/2024 15:14 09/16/2024 15:14:00
2024-0090390 09/13/2024 12:35 09/13/2024 12:35:00
2024-0090416 09/13/2024 13:11 09/13/2024 13:11:00
2024-0090603 09/13/2024 15:01 09/13/2024 15:01:00
2024-0089910 09/12/2024 12:32 09/12/2024 12:32:00
2024-0090014 09/12/2024 13:53 09/12/2024 13:53:00
2024-0090030 09/12/2024 14:00 09/12/2024 14:00:00
2024-0089429 09/11/2024 13:49 09/11/2024 13:49:00
2024-0089445 09/11/2024 13:55 09/11/2024 13:55:00
2024-0089846 09/12/2024 11:23 09/12/2024 11:23:00
2024-0088874 09/10/2024 13:53 09/10/2024 13:53:00
2024-0089246 09/11/2024 12:09 09/11/2024 12:09:00
2024-0089270 09/11/2024 12:37 09/11/2024 12:37:00
2024-0087920 09/06/2024 14:29 09/06/2024 14:29:00
2024-0088513 09/09/2024 15:34 09/09/2024 15:34:00
2024-0088699 09/10/2024 11:05 09/10/2024 11:05:00
2024-0087557 09/06/2024 11:48 09/06/2024 11:48:00
2024-0087586 09/06/2024 12:13 09/06/2024 12:13:00
2024-0087876 09/06/2024 14:00 09/06/2024 14:00:00
2024-0086629 09/04/2024 13:48 09/04/2024 13:48:00
2024-0086786 09/05/2024 08:05 09/05/2024 08:05:00
2024-0086830 09/05/2024 09:21 09/05/2024 09:21:00
2024-0086065 09/03/2024 14:40 09/03/2024 14:40:00
2024-0086119 09/03/2024 15:05 09/03/2024 15:05:00
2024-0086159 09/03/2024 15:48 09/03/2024 15:48:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0086011 09/03/2024 13:57 09/03/2024 13:57:00
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
10/07/2024 12:14
For Month: September 2024
City: Rm Richmond
Attachment 4 - Documentary Transfer Tax for September 2024
$3,080.00
$3,780.00
$6,650.00
$4,249.00
$4,620.00
$16,237.50
$5,845.00
$2,485.00
$6,251.00
$3,885.00
$6,755.00
$4,858.00
$21,937.50
$6,860.00
$3,843.00
$5,075.00
$4,585.00
$17,187.50
$6,741.00
$2,520.00
$6,335.00
$2,702.00
$4,270.00
Total $ of Cap docs $424,251.00
Total Count of Cap
docs Count:
72 Total:$375,734.00
54 2024-0096325 09/30/2024 16:16 09/30/2024 16:16:00
2024-0096369 09/30/2024 16:37 09/30/2024 16:37:00
2024-0095770 09/27/2024 14:31 09/27/2024 14:31:00
2024-0095802 09/27/2024 15:02 09/27/2024 15:02:00
2024-0095991 09/30/2024 10:31 09/30/2024 10:31:00
2024-0095614 09/27/2024 11:33 09/27/2024 11:33:00
2024-0095741 09/27/2024 14:07 09/27/2024 14:07:00
2024-0095749 09/27/2024 14:10 09/27/2024 14:10:00
2024-0095461 09/27/2024 09:08 09/27/2024 09:08:00
2024-0095487 09/27/2024 09:26 09/27/2024 09:26:00
2024-0095519 09/27/2024 10:14 09/27/2024 10:14:00
2024-0095018 09/26/2024 12:53 09/26/2024 12:53:00
2024-0095180 09/26/2024 14:12 09/26/2024 14:12:00
2024-0095446 09/27/2024 08:52 09/27/2024 08:52:00
2024-0094684 09/26/2024 08:06 09/26/2024 08:06:00
2024-0094917 09/26/2024 11:36 09/26/2024 11:36:00
2024-0094931 09/26/2024 11:50 09/26/2024 11:50:00
2024-0094374 09/25/2024 11:56 09/25/2024 11:56:00
2024-0094593 09/25/2024 15:19 09/25/2024 15:19:00
2024-0094682 09/26/2024 08:04 09/26/2024 08:04:00
2024-0094121 09/25/2024 08:40 09/25/2024 08:40:00
2024-0094188 09/25/2024 09:23 09/25/2024 09:23:00
2024-0094309 09/25/2024 11:11 09/25/2024 11:11:00
Attachment 4 - Documentary Transfer Tax for September 2024