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Title:
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Ordinance amending the Business and Tax Regulations Code to, for transfers occurring on or after July 1, 2026: halve the real property transfer tax rate from 5.5% to 2.75% when the consideration or value of the property conveyed equals or exceeds $10,000,000 but is less than $25,000,000, and from 6% to 3% when the consideration or value equals or exceeds $25,000,000; exempt from these reductions the transfer of single-family residences; reduce the penalties for delinquent real property transfer taxes; and affirming the Planning Department’s determination under the California Environmental Quality Act.
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