Measure T – Hayward Residents Vote Yes or No? by Casey Serafino-Lee

Are you voting yes or no on Measure T? Maybe you don’t know enough about it.

I’m Casey Serafino-Lee, Realtor to my friends and neighbors in Hayward.

Let me help you understand, Measure T, which is a transfer tax that the city of Hayward would like to increase from $4.50 to $8.50. It is a way to increase the tax when you sell your house or what we call the transfer tax. Currently if you live in the City of Hayward and when you sell your house, you pay $4.50 per thousand dollars. It is standard that buyers and sellers split this cost, although it is always negotiable. Let’s say for round numbers you selling your house for $500 k, you would split the $2,250 transfer tax with the buyer.

If measure T passes the transfer tax to the City of Hayward would become $8.50 per thousand or $4,250 split between the buyer and seller for that $500K house.

What does this mean for you if you buy or sell a home in Hayward? If you are selling you will need to pay a higher tax when you sell. And if you are a buyer, you will need more money.

The big question is where will this money go? It is going to go to the City of Hayward general fund. Hey listen, I am not encouraging you to vote yes or no. I just wanted to inform my friend and neighbors of Hayward.

Don’t forget to vote on November 6th!

 

Measure T – Hayward Residents Vote Yes or No? by Casey Serafino-Lee

Posted on November 1, 2018 at 10:36 pm
Casey Serafino-Lee | Category: Community

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