Measure S

City of Albany Real Property Transfer Tax Measure

Measure S would adjust the City’s real property transfer tax rate from $15.00 to between $10.00 and $30.00 per $1,000 purchased, depending upon the property’s purchase price to support City of Albany general services, with funding that cannot be taken by Sacramento, including: street and park maintenance, recreation, public safety, and environmental programs.

This measure requires approval by a majority of voters voting on the measure to pass.

Fiscal Impact: Measure S is estimated to generate an additional $1,000,000 annually.

Next Alameda County Measure: Measure T

See Endorsements for Measure S
Background

Pursuant to City Measure “CC”, approved by Albany voters in 2020, the City currently imposes a real property transfer tax at an across-the-board rate of 1.5% of the purchase price/value of the real property interest transferred.  The real property transfer tax is a general tax.  Revenues are deposited into the General Fund and may be spent for any City expense like street and park maintenance, recreation, public safety, and environmental programs.  

Proposal

If approved, Measure S would adjust the real property transfer tax from an across-the-board 1.5% rate to the following five-tiered rate structure, depending upon the purchase price/value transferred:

  • 1.0% of the purchase price/value transferred, where the purchase price/value transferred is below the 25th percentile of transactions during the 12 months preceding September 1 of the preceding year, as recorded by the Alameda County Assessor, rounded to the nearest $100,000 increment;
  • 1.5% of the purchase price/value transferred, where it is at the 25th percentile but below the 50th percentile of transactions during the same 12 months, rounded to the nearest $100,000 increment;
  • 2.0% of the purchase price/value transferred, where it is at the 50th percentile but below the 75th percentile of transactions during the same 12 months, rounded to the nearest $100,000 increment;
  • 2.5% of the purchase price/value transferred, where it is at the 75th percentile but below the 90th percentile of transactions during the same 12 months, rounded to the nearest $100,000 increment; 
  • 3.0% of the purchase price/value transferred, where it is at or above the 90th percentile of transactions during the same 12 months, rounded to the nearest $100,000 increment.

Source: Measure S Impartial Analysis

Alameda County Election Resources