Question 1

What is the real estate transfer tax in California?

Accepted Answer

In California, state law lets each county impose a documentary transfer tax of $0.55 for each $500 or fraction of the value conveyed (not counting a lien or encumbrance that remains on the property) on a deed when that value exceeds $100. A city in a county that has imposed the tax may impose its own at one-half the county rate, and the county credits a conforming city tax against the county tax. The tax does not apply to an instrument given to secure a debt, or to a deed dividing community property between spouses as required by a dissolution judgment or a written agreement made in contemplation of one. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is Cal. Rev. & Tax. Code §§ 11911, 11921, 11927.

Question 2

What is the real estate transfer tax in Florida?

Accepted Answer

In Florida, a deed conveying real property carries a documentary stamp tax of 70 cents for each $100 of the consideration, and the consideration includes any mortgage or other encumbrance on the property whether or not the debt is assumed. A county as defined in s. 125.011(1) may levy a discretionary surtax on documents taxable under s. 201.02, except a document conveying only a single-family residence. The tax does not apply to a deed between spouses or former spouses under an action for dissolution of their marriage when the property is or was their marital home, or to a contract to sell the home of an employee relocating at the employer’s direction. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is Fla. Stat. §§ 201.02, 201.031.

Question 3

What is the real estate transfer tax in New York?

Accepted Answer

In New York, a real estate transfer tax of $2 for each $500 or fractional part of consideration is imposed on each conveyance of real property when the consideration exceeds $500, and the grantor pays it unless the contract provides otherwise, with the grantee liable jointly and severally if the grantor fails to pay. A buyer of residential real property, including a one-, two- or three-family house, a condominium unit or a cooperative apartment, pays an additional tax of 1 percent of the consideration when the consideration for the entire conveyance is $1 million or more. In a city of one million or more people, the rate rises by $1.25 for each $500 when the consideration is $3 million or more for residential property or $2 million or more for other property, and the buyer of residential property for $2 million or more pays a supplemental tax rising from one-quarter of 1 percent to 2.9 percent at $25 million or more. Conveyances without consideration and otherwise than in connection with a sale, including bona fide gifts, are exempt, as are conveyances that only secure a debt. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is N.Y. Tax Law §§ 1402, 1402-a, 1402-b, 1404, 1405.

Question 4

What is the real estate transfer tax in Pennsylvania?

Accepted Answer

In Pennsylvania, every person who makes, executes, delivers, accepts or presents for recording a document conveying real estate, or on whose behalf it is made, is subject to a State realty transfer tax of 1 percent of the value of the real estate the document represents, payable when the document is presented for recording or within 30 days of its acceptance. Cities, boroughs, incorporated towns, townships and school districts may levy their own tax on the same transfers, subject to the rate limits of The Local Tax Enabling Act. A transfer between husband and wife, between parent and child or the child’s spouse, between siblings, or between grandparent and grandchild is excluded, as is a transfer for no or nominal consideration from a personal representative to the decedent’s devisee or heir. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is Tax Reform Code of 1971, §§ 1102-C, 1102-C.3, 1101-D.

Question 5

What is the real estate transfer tax in Illinois?

Accepted Answer

In Illinois, the state taxes the transfer of title to real estate at 50 cents for each $500 of value, or fraction of $500, stated in the transfer declaration, and a deed is not accepted for recording until the revenue stamps showing the tax is paid have been bought from the county recorder. A county board may impose its own tax at 25 cents for each $500 of value, collected by the county recorder before the deed is recorded. When the property is transferred subject to a mortgage, the amount still owed on that mortgage is left out of the value taxed. Exempt deeds include those where the actual consideration is less than $100 and deeds issued to a mortgage holder in a foreclosure or a transfer in lieu of foreclosure. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is 35 ILCS 200/31-10, 31-20, 31-45; 55 ILCS 5/5-1031.

Question 6

What is the real estate transfer tax in Ohio?

Accepted Answer

In Ohio, the county auditor charges a real property transfer fee, for receiving the statement of value, of $1 or 10 cents for each $100 or fraction of $100 of the value of the real property transferred, whichever is greater, and a county may add a real property transfer tax of up to 30 cents per $100 that is levied on and paid by the grantor. The county transfer tax is levied by resolution of the board of county commissioners after two public hearings and is paid to the county auditor when the deed is delivered and before it is presented for recording; the resolution is subject to referendum. No auditor’s fee is charged on a gift between husband and wife or between parent and child or the spouse of either, or on a transfer among the heirs or devisees of a common decedent when no money is paid. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is Ohio Rev. Code §§ 319.54, 322.02.

Question 7

What is the real estate transfer tax in Georgia?

Accepted Answer

In Georgia, a deed conveying real property sold for more than $100 is taxed at $1.00 for the first $1,000 and 10 cents for each additional $100 or fraction of the value (not counting a lien that existed before the sale and is not removed by it), paid by the person who signs the deed or the person for whose benefit it is signed. The tax does not apply to an instrument given to secure a debt or to a deed of gift. To claim an exemption, the total consideration for the real and personal property conveyed must be shown on the state’s prescribed form. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is O.C.G.A. §§ 48-6-1, 48-6-2, 48-6-3.

Question 8

What is the real estate transfer tax in North Carolina?

Accepted Answer

In North Carolina, an excise tax of $1 on each $500 or fractional part of the consideration or value of the interest conveyed is levied on each instrument conveying an interest in real property, and the transferor must pay it to the county register of deeds before the deed is recorded. The county credits one-half of the proceeds to its general fund and sends the other half, less refunds and its administrative allowance, to the Department of Revenue. Transfers by gift and transfers by will or by intestacy are exempt. Counties and cities can add their own tax where state law lets them, so check the county where the deed is recorded. This is N.C. Gen. Stat. §§ 105-228.30, 105-228.29.

State	State transfer tax	Source
Alabama	$0.50 per $500 of value conveyed	Ala. Code § 40-22-1
Arkansas	$3.30 per $1,000 of the price	Ark. Code §§ 26-60-102, 26-60-105, 26-60-106
California	County tax of $0.55 per $500 (rate set by state law)	Cal. Rev. & Tax. Code §§ 11911, 11921, 11927
Colorado	1 cent per $100 of the price (documentary fee)	C.R.S. §§ 39-13-102, 39-13-104
Connecticut	1% (0.75% state + 0.25% town), paid by the seller	Conn. Gen. Stat. §§ 12-494, 12-495, 12-498
Delaware	2.5% state (3% if no local tax), split equally	30 Del. C. §§ 5401, 5402
District of Columbia	Two taxes of 1.1% each; 1.45% each from $400,000	D.C. Code §§ 42-1103, 47-902, 47-903
Florida	70 cents per $100 of the price	Fla. Stat. §§ 201.02, 201.031
Georgia	$1 per $1,000 of the price	O.C.G.A. §§ 48-6-1, 48-6-2, 48-6-3
Hawaii	10¢ to $1.00 per $100 by price tier, paid by seller	Haw. Rev. Stat. §§ 247-2, 247-3, 247-4
Illinois	50¢ per $500 of value; counties may add 25¢	35 ILCS 200/31-10, 31-20, 31-45; 55 ILCS 5/5-1031
Iowa	80¢ per $500 of price above the first $500	Iowa Code §§ 428A.1, 428A.2
Kentucky	50¢ per $500 of value, paid by the grantor	KRS 142.050
Maine	$2.20 per $500, split equally by seller and buyer	36 M.R.S. §§ 4641-A, 4641-C
Maryland	0.5% of the price, plus a county recordation tax	Md. Code, Tax-Prop. §§ 12-102, 12-103, 13-202, 13-203, 13-207
Michigan	$3.75 per $500 state plus 55¢ county, paid by the seller	MCL 207.523, 207.525, 207.526; MCL 207.502, 207.504
Minnesota	0.33% of the net price ($1.65 at $3,000 or less)	Minn. Stat. §§ 287.21, 287.22, 383A.80, 383B.80
Nebraska	$3.32 per $1,000 of value, paid by the seller	Neb. Rev. Stat. §§ 76-901, 76-902
Nevada	$1.95 per $500 ($2.55 in a county of 700,000 or more)	NRS 375.020, 375.023, 375.026, 375.030, 375.090
New Hampshire	$0.75 per $100 of price, paid by buyer and seller each	RSA 78-B:1, 78-B:2, 78-B:4
New Jersey	Graduated fee per $500 of price, paid by the seller	N.J.S.A. 46:15-7, 46:15-7.1, 46:15-7.2, 46:15-10
New York	$2 per $500 of price, paid by the seller	N.Y. Tax Law §§ 1402, 1402-a, 1402-b, 1404, 1405
North Carolina	$1 per $500 of price, paid by the seller	N.C. Gen. Stat. §§ 105-228.30, 105-228.29
Ohio	10 cents per $100 of value, plus up to 30 cents by county	Ohio Rev. Code §§ 319.54, 322.02
Oklahoma	75 cents per $500 of price	68 O.S. §§ 3201, 3202, 3203, 3204
Pennsylvania	1% of the value, plus any local transfer tax	Tax Reform Code of 1971, §§ 1102-C, 1102-C.3, 1101-D
Rhode Island	$3.75 per $500 of price, paid by the seller	R.I. Gen. Laws §§ 44-25-1, 44-25-2
South Carolina	$1.85 per $500 of value, paid by the seller	S.C. Code §§ 12-24-10, 12-24-20, 12-24-30, 12-24-40, 12-24-90
South Dakota	50 cents per $500 of value, paid by the seller	SDCL §§ 43-4-21, 43-4-22
Tennessee	37 cents per $100 of price or value, whichever is greater	Tenn. Code § 67-4-409
Vermont	1.25% of value, paid by the buyer	32 V.S.A. §§ 9602, 9602a, 9603, 9604
Virginia	25 cents per $100, plus 50 cents per $500 paid by seller	Va. Code §§ 58.1-801, 58.1-802, 58.1-802.3, 58.1-811, 58.1-814
Washington	1.1% to 3% of price in tiers, paid by the seller	RCW 82.45.060, 82.45.080, 82.45.010, 82.46.010, 82.46.035
West Virginia	$1.10 per $500 plus county tax, paid by the seller	W. Va. Code §§ 11-22-1, 11-22-2
Wisconsin	30 cents per $100 of value, paid by the seller	Wis. Stat. §§ 77.22, 77.25

What is the real estate transfer tax?

State transfer tax, state by state

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