Monterey supervisors advance study of transfer tax on ultra‑high‑value homes to fund workforce housing

Monterey County supervisors on March 17 accepted a staff study exploring a special real‑estate transfer tax on ultra‑high‑value single‑family home sales and directed staff to return with refined options and a plan for a possible ballot measure.

The referral, initiated by Supervisor Kate Daniels, asks the county to evaluate a transfer tax that would apply to sales above a high threshold (staff modeled $10 million) and dedicate proceeds to workforce housing, down‑payment assistance and infrastructure to unlock missing‑middle housing. Assistant County Administrative Officer Michael Beaton told the board the county averages roughly 10 sales per year above $10 million in unincorporated areas and presented high‑level revenue scenarios and examples used by other California jurisdictions.

"This referral requests the county to explore a special real‑estate transfer tax on ultra‑high‑value single‑family home sales in the unincorporated area," Beaton said during the presentation, noting staff would need to work on…