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Albany council weighs tiered real property transfer tax options, asks staff for scenario analysis
Summary
Council discussed a potential 2026 ballot measure to restructure Albany’s real property transfer tax with progressive or quartile‑based rates (examples discussed: $10/$15/$20/$25 per $1,000) and potential discounts for first‑time buyers or properties with ADUs; staff will return with pro/con analyses and revenue scenarios.
The Albany City Council on Oct. 6 spent substantial time considering options for a potential 2026 ballot measure to change the city’s real property transfer tax, with staff presenting background and multiple council members urging a progressive, tiered structure.
Staff explained the transfer tax is a general tax (historically $15 per $1,000 in Albany, generating about $2.5–3 million annually) and noted the source is volatile because it…
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