sb2

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Senate bill 2

AFFORDABLE HOUSING AND JOBS ACT

One of the biggest changes coming to California Real Estate is the implementation of SB2.  This new fee is an additional charge passed by the legislature and signed by the governor to fund Affordable Housing.  The fee is assessed at the time documents are recorded into public record with the County Recorder's Office.

This fee is a minimum of $75 and up to $225, however, there are certain types of transactions that are exempt from paying this fee.  A good rule of thumb is that if Transfer Tax is paid on the purchase or sale of a home, SB2 Fees do not apply.

To learn more, check out our Fidelity Fast Fact Legislative Update.

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