News

Menlo Park property transfer tax revenue jumps

 

Menlo Park saw an increase in revenue garnered from the transfer of real estate during the first six months of this fiscal year, as compared to the same time period for 2013-14.

Through December 2014, 267 transactions were processed, generating more than $366,000, according to the city. Last year, the numbers were 235 transactions and $237,000. That's an increase of $129,000 for Menlo Park, according to Economic Development Jim Cogan. The city ascribed the increase to continued strong sales in the commercial and residential real estate sectors.

— Sandy Brundage

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Posted by Abdominal Pain
a resident of another community
on Jan 28, 2015 at 11:21 pm

How to avoid property transfer tax when you relocate (hint: DON'T sell the old address and buy the new one) - Web Link


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