California Senate Passes Bill Adding Fee to Real Estate Transactions – NMP Skip to main content

California Senate Passes Bill Adding Fee to Real Estate Transactions

Jul 07, 2017
The California state Senate approved a new fee on some real estate transaction documents that is designed to create a new revenue stream for the creation of affordable housing

The California state Senate approved a new fee on some real estate transaction documents that is designed to create a new revenue stream for the creation of affordable housing.
 
The Associated Press reports the legislation adds a $75 fee on documents including deeds and notices, with a cap of $225 per transaction. This new fee is projected to bring in between $200 and $300 million annually, which will be used for affordable housing developments. The bill exempts documents related to residential and commercial property sales, but would apply to mortgage refinancing.
 
The bill passed the Senate in a 27-12 with all Democratic votes and has been sent to the state Assembly.
 
"When you use this money to build more housing, you generate more income more tax, more jobs and it helps spur the economy," said Sen. Toni Atkins, the San Diego Democrat who authored the bill. "This will make a difference for middle income families."

 
About the author
Published
Jul 07, 2017
Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

Oct 01, 2026
Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Sep 29, 2026
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

Sep 23, 2026