Page 42 - Homeowners Manual - Santa Clara County
P. 42

CITY TRANSFER TAX UPDATE


        San Jose – Measure E

        Measure E is a transfer tax applied at graduated increments on the sale or transfer of real property equal to or
        exceeds $2�3 million in the City of San Jose� In addition to existing city and county transfer taxes, the transfer tax
        will be imposed when a deed transfers the ownership of both residential and commercial real property�

        Transfers under $2�3 million are exempt from Measure E, while transfers at or above $2�3 million are taxed at the
        following rates:


                                   Value of Consideration                   Rate

                                 $2,300,000�01 to $5,000,000                0�75%

                                 $5,000,000�01 to $10,000,000               1�00%


                                      Over $10,000,000                      1�50%



        For example, a transfer of real property where the value of consideration is $3,000,000 would be
        taxed at a rate of 0�75% of the entire $3,000,000� The tax owed would be $22,500�

        For more information regarding Measure E, please visit the city of San Jose website at sanjoseca�gov�

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