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 property sales of 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 in certain months which are shown as significant peaks.
Attachment 4 - Documentary Transfer Tax for November 2024
Action City Split
$4,340.00
$2,828.00
$3,045.00
$3,080.00
$3,745.00
$13,262.50
$1,785.00
$5,600.00
$3,395.00
$4,900.00
$4,515.00
$4,690.00
$2,163.00
$16,875.00
$1,419,420.00
$5,026.00
$4,305.00
$3,808.00
$4,907.00
$6,510.00
$14,050.00
$14,562.50
$5,075.00
$5,250.00
$4,445.00
$5,523.00
$3,850.00
$3,717.00
$4,403.00
$4,851.00
$15,625.00
$6,020.00
$2,590.00
$4,697.00
$2,520.00
$1,400.00
$4,375.00
$4,200.00
$2,030.00
$4,725.00
$1,890.00
$12,750.00
$4,305.00
$2,975.00
$5,950.00
$4,375.00
$5,950.00
$4,550.00
$3,325.00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0118470 11/01/2024 10:04 11/01/2024 10:04:00
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
12/05/2024 15:58
City: Rm Richmond
For Month: November 2024
2024-0118497 11/01/2024 10:38 11/01/2024 10:38:00
2024-0118684 11/01/2024 13:27 11/01/2024 13:27:00
2024-0118788 11/01/2024 14:40 11/01/2024 14:40:00
2024-0118824 11/01/2024 15:06 11/01/2024 15:06:00
2024-0118878 11/04/2024 08:51 11/04/2024 08:51:00
2024-0119038 11/04/2024 11:03 11/04/2024 11:03:22
2024-0119042 11/04/2024 11:11 11/04/2024 11:11:00
2024-0119060 11/04/2024 11:21 11/04/2024 11:21:00
2024-0119228 11/04/2024 14:32 11/04/2024 14:32:00
2024-0119464 11/05/2024 09:04 11/05/2024 09:04:00
2024-0119649 11/05/2024 11:47 11/05/2024 11:47:00
2024-0119659 11/05/2024 11:58 11/05/2024 11:58:00
2024-0119692 11/05/2024 12:45 11/05/2024 12:45:00
2024-0119797 11/05/2024 14:29 11/05/2024 14:29:00
2024-0119883 11/05/2024 15:41 11/05/2024 15:41:00
2024-0120325 11/06/2024 12:05 11/06/2024 12:05:00
2024-0120477 11/06/2024 14:07 11/06/2024 14:07:00
2024-0120876 11/07/2024 12:53 11/07/2024 12:53:00
2024-0121250 11/08/2024 10:52 11/08/2024 10:52:00
2024-0121273 11/08/2024 11:18 11/08/2024 11:18:00
2024-0121327 11/08/2024 12:19 11/08/2024 12:19:00
2024-0121966 11/12/2024 11:32 11/12/2024 11:32:00
2024-0122182 11/12/2024 14:05 11/12/2024 14:05:00
2024-0122236 11/12/2024 14:45 11/12/2024 14:45:00
2024-0122261 11/12/2024 15:20 11/12/2024 15:20:00
2024-0122268 11/12/2024 15:23 11/12/2024 15:23:00
2024-0122424 11/13/2024 08:49 11/13/2024 08:49:00
2024-0122427 11/13/2024 08:51 11/13/2024 08:51:00
2024-0122666 11/13/2024 11:22 11/13/2024 11:22:00
2024-0122730 11/13/2024 12:06 11/13/2024 12:06:00
2024-0123098 11/13/2024 16:21 11/13/2024 16:21:00
2024-0123133 11/13/2024 16:32 11/13/2024 16:32:00
2024-0123746 11/14/2024 15:58 11/14/2024 15:58:00
2024-0123748 11/14/2024 15:58 11/14/2024 15:58:00
2024-0124128 11/15/2024 11:46 11/15/2024 11:46:00
2024-0124139 11/15/2024 11:53 11/15/2024 11:53:00
2024-0124275 11/15/2024 15:21 11/15/2024 15:21:00
2024-0124281 11/15/2024 15:29 11/15/2024 15:29:00
2024-0124310 11/15/2024 15:48 11/15/2024 15:48:00
2024-0124995 11/19/2024 10:34 11/19/2024 10:34:00
2024-0125085 11/19/2024 11:55 11/19/2024 11:55:00
2024-0125283 11/19/2024 14:49 11/19/2024 14:49:00
2024-0125358 11/20/2024 07:59 11/20/2024 07:59:00
2024-0125654 11/20/2024 09:48 11/20/2024 09:48:00
2024-0125711 11/20/2024 11:05 11/20/2024 11:05:00
2024-0125886 11/20/2024 14:01 11/20/2024 14:01:00
2024-0125971 11/20/2024 14:47 11/20/2024 14:47:00
2024-0126027 11/20/2024 16:02 11/20/2024 16:02:24
Attachment 4 - Documentary Transfer Tax for November 2024
$4,795.00
$3,241.00
$6,790.00
$3,010.00
$4,760.00
$4,550.00
$3,780.00
$5,075.00
$13,350.00
$2,030.00
$5,810.00
$4,893.00
$3,570.00
$5,250.00
$4,655.00
$5,040.00
$3,465.00
$5,390.00
$3,605.00
$2,450.00
$6,594.00
$4,403.00
$2,800.00
$4,193.00
$1,791,677.00
Total $ of Cap docs 1,738,085.00$ $1,791,677.00
Total Count of Cap docs 53 73
2024-0126060 11/21/2024 08:20 11/21/2024 08:20:00
2024-0126101 11/21/2024 09:24 11/21/2024 09:24:00
2024-0126177 11/21/2024 10:35 11/21/2024 10:35:00
2024-0126401 11/21/2024 14:51 11/21/2024 14:51:00
2024-0126598 11/22/2024 08:21 11/22/2024 08:21:00
2024-0126601 11/22/2024 08:29 11/22/2024 08:29:00
2024-0126752 11/22/2024 10:19 11/22/2024 10:19:00
2024-0126954 11/22/2024 13:28 11/22/2024 13:28:00
2024-0127002 11/22/2024 14:19 11/22/2024 14:19:00
2024-0127487 11/25/2024 13:24 11/25/2024 13:24:00
2024-0127498 11/25/2024 13:34 11/25/2024 13:34:00
2024-0127619 11/25/2024 16:01 11/25/2024 16:01:00
2024-0127809 11/26/2024 09:58 11/26/2024 09:58:00
2024-0127962 11/26/2024 13:24 11/26/2024 13:24:00
2024-0128277 11/26/2024 15:59 11/26/2024 15:59:00
2024-0128383 11/27/2024 08:27 11/27/2024 08:27:00
2024-0128459 11/27/2024 09:02 11/27/2024 09:02:00
2024-0128556 11/27/2024 09:52 11/27/2024 09:52:00
2024-0128589 11/27/2024 10:29 11/27/2024 10:29:00
2024-0128658 11/27/2024 11:57 11/27/2024 11:57:00
2024-0128719 11/27/2024 13:59 11/27/2024 13:59:00
Total For Richmond
Total:
Count:
2024-0128744 11/27/2024 14:18 11/27/2024 14:18:00
2024-0128787 11/27/2024 14:44 11/27/2024 14:44:00
2024-0128805 11/27/2024 15:00 11/27/2024 15:00:00
Attachment 4 - Documentary Transfer Tax for November 2024