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Real Property Transfer Tax Rebate Program <br />'•non•`'• <br />The Proposed Rebate Program Provides Relief to... <br />• Purchasers who seismically upgrade single-family <br />residences within one year of purchase <br />• Taxpayers who paid Real Property Transfer Tax on <br />property received by way of charitable donation <br />• Owners who inherit single-family residences and <br />condos (these transfers are exempt) <br />��sw tf�OP <br />Real Property Transfer Tax Rebate Program <br />Discussion Item 1 <br />The maximum allowable rebate per purchase trap <br />is one-half (50%) of the RPTT levy. <br />Factors Considered <br />• Program designed to benefit the purchaser and the <br />buyer and seller often divide the RPTT equally <br />Lack of reliable and detailed public information on <br />home sales to first-time and low-income buyers make it <br />impossible to develop reliable estimate of fiscal impact <br />2 <br />30 <br />