ABC 10: California bill: $75 fee would help fund affordable housing

ABC 10: California bill: $75 fee would help fund affordable housing
May 30, 2017 Peter

Refinancing or changing the title on your home soon? Well, a new bill in the state Legislature would add a $75 fee to these real estate recording documents. SB 2 would establish an affordable housing trust fund using the fee revenue, which is capped at $225 — in other words, three pages. “All in all, throughout Sacramento County and the surrounding areas, we have seen a lack of supply, which has created this crisis,” Sacramento Association of Realtors President Franco Garcia said. Under the proposal, a governing board — including six people appointed by the governor — would oversee the money. The fee excludes property sales.

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