REAL ESTATE TRANSFER TAX
The Real Estate Transfer Tax is collected at the time ownership of a property such as a private residence is transferred, usually by sale. Real Estate Transfer Tax are
normally paid by the seller. The tax is set at a percentage of the sale price. The law allows a county to impose a tax of up to $1.10 per $1,000 of value on every real estate transaction. This is usually expressed as $.55 per $500 of value in local ordinances imposing the tax. If a city also chooses to impose the tax, then the $1.10 rate is split between the city and county.
The Real Estate Transfer Tax is administered by the county which collects the tax on behalf of cities and transfers them any funds due. Thus, if a private home is sold for $300,000 in a county which has enacted a $1.10 per $1,000
Real Estate Transfer Tax the county would collect $3,300. If the county and a city within the county had had agreed to split the statutory
Real Estate Transfer Tax amount, the city and county would each receive $1,925 (half of the statutory amount each). If a city imposes a
Real Estate Transfer Tax which exceeds the statutory amount the entire statutory amount collected by the county goes to the county.
Many California cities have Real Estate Transfer Tax rates which exceed the county statutory amount.
Estimating the Real Estate Transfer Tax
Click below for the real estate transfer tax rate for a particular California city/county:
| Transfer Tax Rates Pages 1-3 | Transfer Tax Rates Pages 4-6 | Transfer Tax Rates Pages 7-9 | Transfer Tax Rates Pages 10-12 | Transfer Tax Rates Page 13 |
Statutory Exemptions from the Real Estate Transfer Tax
The California Revenue and Taxation Code, which provides the statutory authority for counties and cities to impose the transfer tax, specifically exempts from tax the following transactions:
