HomeMy WebLinkAbout7/13/2005 - STAFF REPORTS (2) DOCUMENTARY TRANSFER TAX
Tax Rate Percent per Tax Amount Tax Amount to House Price Tax on House Total Estimated City Revenue New City Revenue
$1,000/Sale Price $1,000 to City County (Based on FY2004/05 Revenue)
Current Rate
$1.10 0.11% $0.55 $0.55 $400,000 $440 $938,900 $0.00
Alternative Rates
$2.20 0.22% $1.10 $1.10 $400,000 $880 $1,877 800 $938,900
$4.40 0.44% $3.30 $1.10 $400,000 $1,760 $5 633 400 $4,694,500
$10.00 1.00% $8.90 $1.10 $400,000 ` $4,000 $15,195,157 14 2$ 56,257
Notes:
1. Only Charter Cities have the option of going above the Tax Rate of$1.10 per$1,000 Sale Price
2. Riverside, Pomona, and Redondo Beach are at$2.20 in Southern California
3. Los Angels and Culver City are at S4.50 per$1,000 in Southern California
CD
Z
'O
�V^J
V,