Place measure on November ballot to raise transfer tax on luxury homes
In Plain English
Richmond currently charges a transfer tax when properties are sold. The proposed ballot measure would increase this tax to 1.25% for homes worth $1 million to $3 million and 1.35% for homes over $3 million. If voters approve the measure, the city collects more revenue from high-end real estate sales.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
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