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 October 2024 Action City Split
$3,325.00
$3,185.00
$4,060.00
$4,235.00
$5,915.00
$13,750.00
$2,121.00
$6,657.00
$6,692.00
$4,060.00
$3,850.00
$5,845.00
$6,993.00
$924.00
$6,090.00
$4,865.00
$6,034.00
$5,460.00
$3,920.00
$2,569.00
$2,450.00
$3,500.00
$5,110.00
$4,340.00
$1,225.00
$1,750.00
$3,010.00
$3,640.00
$4,305.00
$3,360.00
$3,710.00
$3,815.00
$4,095.00
$3,360.00
$2,275.00
$3,325.00
$2,940.00
$2,660.00
$3,710.00
$5,075.00
$3,885.00
$2,086.00
$3,423.00
$5,180.00
$2,296.00
$3,640.00
$6,741.00
$6,300.00
$5,705.00
$1,015.00
$6,160.00
2024-0105861 10/22/2024 08:48 10/22/2024 08:48:00
2024-0106078 10/22/2024 11:25 10/22/2024 11:25:00
2024-0105185 10/18/2024 13:41 10/18/2024 13:41:00
2024-0105627 10/21/2024 12:24 10/21/2024 12:24:00
2024-0105652 10/21/2024 13:01 10/21/2024 13:01:00
2024-0104902 10/18/2024 09:34 10/18/2024 09:34:00
2024-0105112 10/18/2024 12:38 10/18/2024 12:38:00
2024-0105156 10/18/2024 13:13 10/18/2024 13:13:00
2024-0102762 10/17/2024 11:20 10/17/2024 11:20:00
2024-0102804 10/17/2024 12:03 10/17/2024 12:03:00
2024-0102906 10/17/2024 14:11 10/17/2024 14:11:00
2024-0102493 10/17/2024 08:21 10/17/2024 08:21:00
2024-0102647 10/17/2024 10:04 10/17/2024 10:04:00
2024-0102733 10/17/2024 11:15 10/17/2024 11:15:00
2024-0101615 10/15/2024 14:15 10/15/2024 14:15:00
2024-0101822 10/16/2024 08:25 10/16/2024 08:25:00
2024-0102349 10/16/2024 13:56 10/16/2024 13:56:00
2024-0101452 10/15/2024 11:16 10/15/2024 11:16:00
2024-0101527 10/15/2024 12:52 10/15/2024 12:52:00
2024-0101605 10/15/2024 14:09 10/15/2024 14:09:00
2024-0101412 10/15/2024 10:42 10/15/2024 10:42:00
2024-0101430 10/15/2024 11:01 10/15/2024 11:01:00
2024-0101436 10/15/2024 11:04 10/15/2024 11:04:00
2024-0100859 10/14/2024 08:27 10/14/2024 08:27:00
2024-0101398 10/15/2024 10:21 10/15/2024 10:21:00
2024-0101409 10/15/2024 10:40 10/15/2024 10:40:00
2024-0100706 10/11/2024 12:10 10/11/2024 12:10:00
2024-0100734 10/11/2024 12:59 10/11/2024 12:59:00
2024-0100858 10/14/2024 08:27 10/14/2024 08:27:00
2024-0100341 10/11/2024 07:53 10/11/2024 07:53:00
2024-0100344 10/11/2024 07:54 10/11/2024 07:54:00
2024-0100346 10/11/2024 07:55 10/11/2024 07:55:00
2024-0099904 10/10/2024 09:15 10/10/2024 09:15:00
2024-0099990 10/10/2024 11:06 10/10/2024 11:06:00
2024-0100130 10/10/2024 13:55 10/10/2024 13:55:00
2024-0098641 10/07/2024 12:10 10/07/2024 12:10:00
2024-0099323 10/09/2024 08:12 10/09/2024 08:12:00
2024-0099394 10/09/2024 09:09 10/09/2024 09:09:00
2024-0098232 10/04/2024 13:23 10/04/2024 13:23:00
2024-0098252 10/04/2024 13:50 10/04/2024 13:50:00
2024-0098471 10/07/2024 10:03 10/07/2024 10:03:00
2024-0098157 10/04/2024 11:54 10/04/2024 11:54:00
2024-0098188 10/04/2024 12:14 10/04/2024 12:14:00
2024-0098210 10/04/2024 12:51 10/04/2024 12:51:00
2024-0097727 10/03/2024 16:15 10/03/2024 16:15:00
2024-0097786 10/04/2024 07:59 10/04/2024 07:59:00
2024-0097888 10/04/2024 08:50 10/04/2024 08:50:00
2024-0097103 10/02/2024 12:52 10/02/2024 12:52:00
2024-0097558 10/03/2024 12:29 10/03/2024 12:29:00
2024-0097654 10/03/2024 15:13 10/03/2024 15:13:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0096811 10/01/2024 14:36 10/01/2024 14:36:00
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
11/06/2024 19:00
For Month: October 2024
City: Rm Richmond
Attachment 4 - Documentary Transfer Tax for October 2024 $12,812.50
$30,000.00
$13,550.00
$2,025,000.00
$1,620,000.00
$330,000.00
$3,220.00
$4,550.00
$5,845.00
$4,046.00
$4,060.00
$6,475.00
$1,246.00
$3,150.00
$13,450.00
$5,523.00
$14,687.50
$3,682.00
$3,605.00
$3,290.00
$24,437.50
$6,160.00
$3,234.00
$3,990.00
$6,195.00
$4,900.00
$4,200.00
$2,800.00
$4,375.00
$4,725.00
$6,391.00
$4,394,235.50
Total $ of Cap docs 4,326,496.50$ $4,394,235.50
Total Count of Cap docs 56 $82.00
Total For Richmond
Total:
Count:
2024-0118195 10/31/2024 14:14 10/31/2024 14:14:00
2024-0118250 10/31/2024 15:19 10/31/2024 15:19:00
2024-0118287 10/31/2024 15:42 10/31/2024 15:42:00
2024-0117976 10/31/2024 10:40 10/31/2024 10:40:00
2024-0118184 10/31/2024 14:03 10/31/2024 14:03:00
2024-0118189 10/31/2024 14:06 10/31/2024 14:06:00
2024-0117292 10/30/2024 09:22 10/30/2024 09:22:00
2024-0117795 10/30/2024 15:15 10/30/2024 15:15:00
2024-0117883 10/31/2024 09:21 10/31/2024 09:21:00
2024-0116996 10/29/2024 14:03 10/29/2024 14:03:00
2024-0116999 10/29/2024 14:05 10/29/2024 14:05:00
2024-0117024 10/29/2024 14:13 10/29/2024 14:13:00
2024-0116351 10/28/2024 14:02 10/28/2024 14:02:00
2024-0116361 10/28/2024 14:21 10/28/2024 14:21:00
2024-0116816 10/29/2024 11:22 10/29/2024 11:22:00
2024-0116096 10/28/2024 09:30 10/28/2024 09:30:00
2024-0116272 10/28/2024 12:13 10/28/2024 12:13:00
2024-0116316 10/28/2024 13:09 10/28/2024 13:09:00
2024-0115687 10/25/2024 13:42 10/25/2024 13:42:00
2024-0115727 10/25/2024 14:33 10/25/2024 14:33:00
2024-0116026 10/28/2024 08:53 10/28/2024 08:53:00
2024-0107276 10/24/2024 11:11 10/24/2024 11:11:00
2024-0115588 10/25/2024 11:23 10/25/2024 11:23:00
2024-0115675 10/25/2024 13:36 10/25/2024 13:36:00
2024-0107036 10/24/2024 08:50 10/24/2024 08:50:00
2024-0107037 10/24/2024 08:50 10/24/2024 08:50:00
2024-0107232 10/24/2024 10:06 10/24/2024 10:06:00
2024-0106441 10/23/2024 08:05 10/23/2024 08:05:00
2024-0106509 10/23/2024 09:57 10/23/2024 09:57:00
2024-0107035 10/24/2024 08:50 10/24/2024 08:50:00
2024-0106231 10/22/2024 12:58 10/22/2024 12:58:00
Attachment 4 - Documentary Transfer Tax for October 2024