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District Attorney recommending that the Board adopt Resolution 015-2009 to increase the real estate document fees from $2 to $3 for every recording of real estate instrument according to Government Code Section 27388.
FUNDING: Real Estate Fraud Prosecution Trust Fund.
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Fiscal Impact/Change to Net County Cost: Potential increase in revenue in FY 2008-09 based on number of Real Estate filings and an increase in the number of types of documents is estimated at approximately $60,000.
Background: The Board of Supervisors passed and adopted resolution #169-2004 on June 8, 2004, following Government Code Section 27388 authorizing a $2 fee for real estate transactions. The fee was established to help law enforcement agencies with the investigation and prosecution of real estate fraud. All funds collected are deposited and held in a trust fund.
On an annual basis the District Attorney's office presents to the Board the prior fiscal year's expenditures and requests at the direction of the Real Estate Prosecution Trust Fund Committee that funds from the Real Estate Fraud Prosecution Trust be transferred to the Department's operating budget. In prior years the agenda item has been brought to the Board in February, but beginning with the report for Fiscal Year 2008-2009 the District Attorney's office will bring forward the agenda item in July.
The funds received through the Real Estate Fraud Prosecution Trust Fund only covers a small portion of the costs the DA's Office continues to incur. For example, beginning Fall of 2007 the District Attorney's Office had been the primary agency investigating a major mortgage fraud case which has since been acquired by the federal government for further investigation and prosecution. This case alone expended on average 500 personnel hours equaling roughly $30,000. Both incoming and pending cases will far exceed adjusted projected revenue.
Reason for Recommendation: Stipulated by Senate Bill 1396, approved by Gove...
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