Documentary Transfer Tax
The City of Richmond receives Documentar y Transfer Tax from the County for the sale of properties in Richmond. As one of the mo st volatile revenue streams for the City, the amounts received can vary month-to-month fr om 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. Measure H increased t he real estate transfer tax from 0.7 percent to 1.25 perc ent 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 paym ent 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 December 2024 1 Action City Split
$17,250.00
$5,075.00
$13,312.50
$4,620.00
$4,900.00
$3,850.00
$2,170.00
$16,625.00
$4,480.00
$2,520.00
$24,375.00
$4,305.00
$2,800.00
$2,240.00
$3,850.00
$4,935.00
$5,740.00
$15,125.00
$3,850.00
$2,450.00
$4,375.00
$36,250.00
$5,215.00
$5,509.00
$4,795.00
$23,687.50
$4,550.00
$13,512.50
$4,095.00
$2,100.00
$5,950.00
$4,900.00
$4,865.00
$6,125.00
$6,300.00
$5,712.00
$13,575.00
$3,185.00
$3,780.00
$4,725.00
$3,605.00
$6,300.00
$4,270.00
$5,075.00
$3,535.00
$26,250.00
$5,915.00
$2,415.00
2024-0137789 12/27/2024 08:05 12/27/2024 08:05:00
2024-0137981 12/27/2024 10:17 12/27/2024 10:17:00
2024-0137557 12/26/2024 11:38 12/26/2024 11:38:00
2024-0137739 12/26/2024 15:37 12/26/2024 15:37:00
2024-0137786 12/27/2024 08:02 12/27/2024 08:02:00
2024-0137083 12/24/2024 08:50 12/24/2024 08:50:00
2024-0137149 12/24/2024 10:14 12/24/2024 10:14:00
2024-0137549 12/26/2024 11:13 12/26/2024 11:13:00
2024-0136835 12/23/2024 13:03 12/23/2024 13:03:00
2024-0136891 12/23/2024 14:24 12/23/2024 14:24:00
2024-0136929 12/23/2024 14:56 12/23/2024 14:56:00
2024-0136563 12/23/2024 09:25 12/23/2024 09:25:00
2024-0136742 12/23/2024 11:40 12/23/2024 11:40:00
2024-0136800 12/23/2024 12:21 12/23/2024 12:21:00
2024-0136185 12/20/2024 10:44 12/20/2024 10:44:00
2024-0136294 12/20/2024 12:30 12/20/2024 12:30:00
2024-0136331 12/20/2024 13:26 12/20/2024 13:26:00
2024-0135360 12/18/2024 14:36 12/18/2024 14:36:00
2024-0135677 12/19/2024 12:30 12/19/2024 12:30:00
2024-0136076 12/20/2024 09:19 12/20/2024 09:19:00
2024-0135047 12/18/2024 09:52 12/18/2024 09:52:00
2024-0135152 12/18/2024 11:23 12/18/2024 11:23:00
2024-0135204 12/18/2024 11:45 12/18/2024 11:45:00
2024-0134825 12/17/2024 13:21 12/17/2024 13:21:00
2024-0134852 12/17/2024 14:07 12/17/2024 14:07:00
2024-0134871 12/17/2024 14:42 12/17/2024 14:42:00
2024-0133863 12/13/2024 14:06 12/13/2024 14:06:00
2024-0133916 12/13/2024 14:31 12/13/2024 14:31:00
2024-0134504 12/17/2024 09:00 12/17/2024 09:00:00
2024-0133711 12/13/2024 11:39 12/13/2024 11:39:00
2024-0133805 12/13/2024 12:59 12/13/2024 12:59:00
2024-0133808 12/13/2024 13:01 12/13/2024 13:01:00
2024-0132831 12/11/2024 13:25 12/11/2024 13:25:00
2024-0133270 12/12/2024 12:53 12/12/2024 12:53:00
2024-0133429 12/13/2024 08:03 12/13/2024 08:03:00
2024-0131541 12/09/2024 10:27 12/09/2024 10:27:00
2024-0131624 12/09/2024 12:08 12/09/2024 12:08:00
2024-0132425 12/10/2024 16:06 12/10/2024 16:06:00
2024-0131033 12/06/2024 09:15 12/06/2024 09:15:00
2024-0131194 12/06/2024 12:02 12/06/2024 12:02:00
2024-0131357 12/06/2024 15:26 12/06/2024 15:26:00
2024-0130579 12/05/2024 10:18 12/05/2024 10:18:00
2024-0130680 12/05/2024 11:19 12/05/2024 11:19:00
2024-0130797 12/05/2024 14:08 12/05/2024 14:08:00
2024-0129494 12/03/2024 10:02 12/03/2024 10:02:00
2024-0130081 12/04/2024 09:37 12/04/2024 09:37:00
2024-0130207 12/04/2024 11:52 12/04/2024 11:52:00
Document No. Recording Date/Time Transaction Date/Time
For Richmond
2024-0129186 12/02/2024 13:02 12/02/2024 13:02:00
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
01/08/2025 16:04
City: Rm Richmond
For Month: December 2024
Attachment 4 - Documentary Transfer Tax for December 2024 2 $5,530.00
$2,338.00
$3,080.00
$5,460.00
$4,900.00
$5,985.00
$13,312.50
$13,562.50
$5,250.00
$15,625.00
$3,780.00
$5,110.00
$448,976.50
Total $ of Cap docs 420,143.50$ $448,976.50
Total Count of Cap docs 49 60
Total:
Count:
2024-0139108 12/31/2024 09:51 12/31/2024 09:51:00
2024-0139160 12/31/2024 10:52 12/31/2024 10:52:00
Total For Richmond
2024-0138720 12/30/2024 14:33 12/30/2024 14:33:00
2024-0138848 12/31/2024 07:54 12/31/2024 07:54:00
2024-0138850 12/31/2024 07:56 12/31/2024 07:56:00
2024-0138354 12/27/2024 15:32 12/27/2024 15:32:00
2024-0138555 12/30/2024 10:38 12/30/2024 10:38:00
2024-0138701 12/30/2024 14:22 12/30/2024 14:22:00
2024-0138204 12/27/2024 13:46 12/27/2024 13:46:00
2024-0138220 12/27/2024 14:18 12/27/2024 14:18:00
2024-0138294 12/27/2024 14:43 12/27/2024 14:43:00
2024-0137993 12/27/2024 11:09 12/27/2024 11:09:00
Attachment 4 - Documentary Transfer Tax for December 2024 3