Hayward Looks at Transfer Tax Increase
On Tuesday, July 10, the Hayward City Council took steps to increase the real estate transfer tax rate. The Council is proposing increasing the tax rate to $8.50 per $1,000 of sale or transfer price. The current rate is $4.50 in addition to the $1.10 Alameda County transfer tax. Hayward officials claim increasing the tax rate will generate millions in additional revenue which will pay for city services, employee salaries and retirement benefits. Hayward voters will have the final say about the rate increase. It is anticipated the Hayward City Council will vote TOMORROW (Tuesday, July 17) to place the transfer tax rate increase on the November 6 ballot.
