What are the sorts of switch taxes?
Actual property switch taxes fluctuate relying in the marketplace. Totally different jurisdictions could have completely different necessities. For Alameda County, you’ll have to contemplate taxes on the California state stage in addition to the county. Right here’s what to anticipate:
State switch taxes
Switch taxes in California are levied at a price of $0.55 per each $500 of dwelling worth. This tax price is identical throughout all cities and counties within the Golden State, although you’ll nonetheless must pay taxes particular to your metropolis and county along with state taxes.
County switch taxes
Switch tax charges additionally fluctuate by county in California.
Alameda County’s switch taxes fluctuate by metropolis and vary from as little as $8.50 per $1,000 of the property’s worth, rounded up in Hayward, to as excessive as $25.00 in Berkeley and Oakland. It’s vital to notice that, inside some cities, the general price of the property may change the switch tax price.
For instance, in Oakland, property offered for $300,000 is taxed at $10.00 per $1,000, which will increase because the property valu goes up.
In accordance with the Alameda County Clerk-Recorder’s web site, right here’s a full desk of potential Alameda County switch tax prices.
| Metropolis | Charge per $1,000 |
| Alameda | $12.00 |
| Albany | $15.00 |
| Berkeley | $15.00 ($1.6 million and fewer) |
| Berkeley (cont.) | $25.00 ($1,600,001 and above) |
| Emeryville | $12.00 (lower than $1,000,000) |
| Emeryville (cont.) | $15.00 ($1,000,000 to $2,000,000) |
| Emeryville (cont.) | $25.00 ($2,000,001 and above) |
| Hayward | $8.50 |
| Oakland | $10.00 ($300,000 and fewer) |
| Oakland (cont.) | $15.00 ($300,001 to $2,000,000) |
| Oakland (cont.) | $17.50 ($2,000,001 to $5,000,000) |
| Oakland (cont.) | $25.00 ($5,000,001 and above) |
| Piedmont | $13.00 |
| San Leandro | $11.00 |
Different switch charges
Along with switch taxes, there are potential charges to contemplate, comparable to from a home-owner’s affiliation or one other native neighborhood group. Once more, as these can fluctuate closely based mostly on location, it’s vital to seek the advice of an expert.
If you happen to’re promoting your house on the market by proprietor, consulting an expert would possibly assist with among the finer factors of the method and provide you with a greater concept of what you’ll be able to anticipate.
