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Measure E is a transfer tax on luxury homes and commercial properties valued over $2 million. Fees are not collected annually, only when these homes are sold. Even with currently high real estate prices, the city estimates that Measure E would only impact the top two percent of property sales in San Jose.
Property Value | Tax Rate |
Less than $2,000,000 | Exempt from tax |
$2,000,000 to $5,000,000 | 0.75% |
$5,000,000.01 to $10,000,000 | 1.0% |
$10,000,000.01 and higher | 1.5% |