Frequently Asked Questions

What is a “transfer tax”?

  • When an owner sells property there is a ‘transfer tax’ that is split between the seller and the buyer.

What property will be taxed under Measure H?

  • Measure H will raise the transfer tax only on luxury property sold for $1 million or more.

How much will this tax raise?

  • Depending on the real estate market, Measure __ will raise between $2.5 to $4 million dollars annually.

What will the new funds go towards?

  • The funds will go to the general fund to be used to fund programs like youth services, business programs and City jobs.

What are the Measure H Transfer Tax Tiers?

  • Properties $0-$1 Million transfer tax remains the same at 0.70%
  • Properties $1M - $3M transfer tax 1.25%
  • Properties $3M - $10M transfer tax is 2.5%
  • Properties $10M and above transfer tax is 3%