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That being said, the purchase contract will have the final say on who pays the transfer tax, so make sure this is clearly spelled out. The buyer, the seller, the real estate agent for the buyer or seller, or any other 3rd party can pay for the transfer tax, as long as this is agreed upon by the buyer and seller. How much? Alameda County has a uniform rate for property transfer taxes in all of its communities, and is dictated by the final purchase price: $1.10 per each thousand For example, a purchase price of $300,000 will yield a transfer tax of $330. What about city transfer tax? Not all cities of Alameda County impose a transfer tax. The following cities do not charge any city transfer tax: Fremont, Union City, Newark, Livermore, Pleasanton, Emeryville, and Dublin. The rest of Alameda cities vary in the city tax they charge on property transfers. City transfer tax per each thousand In the above example of purchase price of $300,000, if the property is located in Hayward, the city transfer tax will amount to $1,350. Payment of the city transfer tax is typically shared equally by the buyer and seller. Again, the signed purchase contract specifies who will actually shoulder this cost. Understanding property taxes – who pays, how much, is there city tax – will help homebuyers in framing expectations, and avoid surprises at the signing table. |
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