Update on C.A.R. Opposed Transfer Tax Legislation

The California Association of Realtors (C.A.R.) has reached an agreement with Senator DeSaulnier on its amendments removing C.A.R.’s opposition by making it clear that Senate Bill 1220 does not apply to transfers/sales of real property and will not impose a transfer tax in the form of a point of sale document recording fee. With these amendments, C.A.R. is now supporting the measure.

This is a win for REALTORS® and their clients. Thanks very much to the Key Contacts and local associations for their efforts to help C.A.R. successfully negotiate to have the transfer tax provision removed from SB 1220.