There's a new transfer tax in the city of Santa Cruz. It started July 1 and nobody's talking about it.
It's graduated, not flat. You only pay on the portion above each line. $1.8M to $2.5M: half a percent on the excess. Above $2.5M: one percent. It climbs from there.
The city median in June was $1,747,500. That means a lot of listings are now sitting right on the trigger. If someone gave you a net sheet in June, it's out of date.
City limits only. County unincorporated isn't affected.
Send this to anyone selling in the city this year.
