City of Oakland Measure FF: Real Property Transfer Tax Foreclosure Exceptions
Source: alamedacountyca.gov
What does this measure do?
Measure FF would remove most foreclosure exceptions from Oakland's property transfer tax, while keeping exceptions for specified housing, health, and small residential transfers. Parties to newly taxable property transfers would pay; the city estimates $4 million to $13 million more yearly.
Read the official ballot measure (PDF)
Proposed by: Oakland City Council (Resolution 91228, written by Councilmember Charlene Wang)
Wang wrote the measure. She says the current tax break rewards Wall Street banks and speculators who buy foreclosed homes. It also gives banks a reason to foreclose instead of negotiating.
Source: piedmontexedra.com
A YES vote means
Most previously exempt foreclosure-related property transfers would become subject to Oakland's transfer tax.
A NO vote means
The current foreclosure-related transfer tax exceptions would remain.
Source: acvote.alamedacountyca.gov