Transfer Tax Ballot Measure Hits Pause as Committee Demands More Rigor

Oakland's Rules & Legislation Committee spent the bulk of its May 28 session wrestling with a proposed ballot measure to close a foreclosure transfer tax loophole — ultimately sending it back for more homework. The committee also routed 34 items to upcoming agendas, fast-tracked an election code cleanup, and heard that Oakland police have reached full compliance with a decades-old federal consent decree for the first time.

• Foreclosure transfer tax ballot measure delayed to June 11 after committee members demand sharper revenue projections and proof of community outreach
• OPD reaches compliance with all 51 federal consent decree tasks for the first time in over 20 years of oversight
• Sanctuary city ordinance reaffirmation scheduled for June 23 Public Safety Committee with expanded title
• Three special budget meetings set for June to shape the FY 2026-27 midcycle budget
• Election code urgency ordinance approved unanimously, clearing the way for the July nomination period
• Community Violence Reduction Plan and East Oakland Arts Center contract placed on non-consent for full council debate

The basics: Councilmember Wong brought a two-part proposal to the November 2026 ballot: one measure would amend the Oakland Municipal Code to close a real property transfer tax exemption for foreclosure transactions, and a separate, non-binding advisory measure would direct the resulting revenue toward interim shelter, transitional housing, addiction treatment, and job readiness programs. Under current law, properties purchased at foreclosure auctions are exempt from Oakland's transfer tax — a gap Wong argues primarily benefits institutional investors like REITs and hedge funds that can pay all cash at auction.