Page 46 - Homeowners Manual - San Mateo County

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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