Tom Butt
  E-Mail Forum – 2020  
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  More on Amethod Charter School Bonds
January 30, 2020

See California Public Finance Authority Bonds to Purchase Amethod Charter School Buildings, January 26, 2020.

We have confirmed that the current owner does not pay ad valorem property taxes due to a tax exemption allowed for a 501(c)(3) entity using the sites for public school purposes.

If the property is sold, the seller will pay the City of Richmond a transfer tax that is 3% for property sales over $10,000,000.  We do not know the sales price yet.  Assuming the sale price is $50 million, a 3% transfer tax rate would result in total City transfer taxes of $1,500,000.