FAQ — Yes on GG for Piedmont's Essential Services

Measure GG: Transfer Tax FAQ

The transfer tax is a one-time assessment collected when property is sold or ownership is transferred.
Transfer tax revenue in Piedmont funds day-to-day costs for police, fire, emergency response, public works, recreation, and other services, as well as the maintenance and replacement of aging infrastructure and facilities.
Piedmont’s transfer taxes are typically split equally between buyer and seller when a home is sold, although the parties may negotiate a different arrangement.

Measure GG would increase Piedmont’s Real Estate Transfer Tax rate from 1.3% to 1.75% of the sale price of real property – from $13 to $17.50 per $1,000.
If approved by a majority of voters, the new rate would take effect July 1, 2027.
Measure GG is estimated to generate $1.5 million in additional revenue annually. Actual revenue will vary based on the number of sales and sales price.
Measure GG would bring Piedmont’s rate more in line with neighboring cities.
In Oakland, the rate is 1.75% for sales between $2 million and $5 million and 2.5% for sales above $5 million. In Berkeley, the rate is 2.5% for sales of $1.6 million or more.
Piedmont has had a local transfer tax since 1968. As other neighboring cities have been modified, Piedmont’s transfer tax has not changed in 33 years.
The City is facing a long-term gap between the cost of maintaining existing city services, facilities, and infrastructure and the revenues available to support them. Piedmont has no significant revenue from retail, and the cost of rehabilitating City buildings, parks, streets, sidewalks, stormwater drains and other infrastructure are rising.
The increase was recommended by the Budget Advisory and Financial Planning Committee, after the City Council asked that they explore options for addressing Piedmont’s long-term needs.