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Piedmont council adopts ordinance to put higher transfer tax before voters
Summary
On unanimous vote the council adopted Ordinance No. 792 NS to increase the city’s real property conveyance (transfer) tax from 1.3% to 1.75% ($17.50 per $1,000) and placed the measure on the November ballot; staff estimated the increase would generate about $1.5 million annually if approved by voters.
The Piedmont City Council completed second reading and adopted Ordinance No. 792 NS, which revises Chapter 20, Article 4 of the Piedmont City Code to increase the real property conveyance tax from 1.3% to 1.75% (expressed in staff materials as $17.50 per $1,000 of sales price). City staff and council discussed comparisons to neighboring cities and whether the proposed flat rate remains below or comparable to peer jurisdictions.
City Finance Director Karen Bawa noted transaction counts and median sale prices used for revenue projections: "In a given year we sold about 136 properties," she said, and staff estimated the proposed increase would generate approximately $1,500,000 in additional revenue for the general fund annually if approved by voters. City Attorney clarified procedural points about council adoption thresholds and said if voters approve the measure it would become effective on 07/01/2027.
