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Real Estate Transfer Taxes

Real Estate Transfer Taxes

Real estate transfer taxes are taxes imposed by states, counties and municipalities on the transfer of the title of real property within the jurisdiction. Real estate transfer taxes can also be used for specific purposes, such as affordable housing and open space development. The following table lists real estate transfer taxes for 37 states and the District of Columbia.

AL| AK| AZ| AR| CA| CO| CT| DE| DC| FL| GA| HI| ID| IL| IN| IA| KS| KY| LA| ME| MD| MA| MI| MN| MS| MO| MT| NE| NV| NH| NJ| NM| NY| NC| NDOH| OK| OR| PA| RI| SC| SD| TN| TX| UT| VT| VA| WA| WV| WI| WY

NCSL TABLE

REAL ESTATE TRANSFER TAXES

State

Tax Description

Transfer Fee Rate

Alabama

Deeds $0.50/$500

Mortgages $0.15/$100

0.1%

0.15%

Alaska

None

 

Arizona

$2 fee per deed or contract

Flat fee

Arkansas

$3.30/$1,000

0.33%

California

Local option transfer tax $.55/$500 for counties.

The city tax rate is half of the county rate and the city tax is allowed as a credit against the county tax.

0.11%

Colorado

Transfer tax $.01/$100

0.01%

Connecticut

State residential transfer tax has two tiers of either 0.75% or 1.25%, based on value.

Nonresidential is 1.25%.

Municipal transfer tax from 0.11% to 0.36%

0.75% up to $800K and 1.25% of value over $800K; plus municipal tax 

Delaware

2% tax on value of property unless there is also a local transfer tax; then the maximum rate is 1.5%. 


 

1.5% - 2%

1% for construction projects over $10,000


 

District of Columbia

 
Transfer tax 1.1%
 

Mortgage recordation tax 1.5 % or 1.1% for values up to $250,000

There are varying rates for different types of property

$5 surcharge per document

1.1%
 

1.1% - 1.5%


 

Florida

Conveyance of realty $0.70/$100 ($0.60 in Miami-Dade County plus a $0.45 surtax on documents transferring anything other than a single-family residence)
 

Mortgage tax $0.35/100

0.7%




0.35%

Georgia

$.10/$100

0.1%

Hawaii

Transfer tax $0.10 to $1/$100, based on property value.

$0.15 to $1.25/$100 without homeowner exemption, based on value.

0.1%-1.0%  


0.15%-1.25%
 

Idaho

None

 

Illinois

State $0.50/$500

County - $0.25/$500

Chicago - $5.25/$500

0.1%

0.05%

1.05%

Indiana

None

 

Iowa

Transfer tax $0.80/$500

0.16%

Kansas

Mortgage fee $0.26/$100

0.26%

Kentucky

Transfer tax   $0.50/$500

0.1%

Louisiana

None

 

Maine

Transfer tax $2.20/$500

0.44%

Maryland

Transfer tax 0.5% (or 0.25% for 1st- time buyers)

County transfer tax varies by county

Recordation tax varies by county

0.5%


Varies

Varies

Massachusetts

Transfer tax  $4.56/$1,000 ($2 / $500  plus 14% surtax)

Barnstable County transfer tax $3.42 / $1,000 ($1.50 / $500 plus 14 % surtax)

Also $10-$20 document fee

0.456%

0.342%

Michigan

State -    $3.75/$500

County - $0.55/$500 - $.75/$500 depending on +/- 2 million population

0.75%

0.11% - 0.15%

Minnesota

Deed tax of $1.65/$500

Mortgage registry tax $.23/100

0.33%

0.23%

Mississippi

None

 

Missouri

None

 

Montana

None

 

Nebraska

Transfer tax $2.25/$1,000

0.225%

Nevada

$0.65/$500 up to 700,000 county population

$1.25/$500over 700,000 county population

Counties may impose an additional $0.10/$500

County tax regardless of size $1.30 / $500

0.13%

0.25%

 

0.26%

New Hampshire

Transfer tax $0.75/$100

Paid by buyer and by seller

$20 minimum tax on transfers of $4,000 or less

1.5%

New Jersey

Transfer tax:  Varies based on price and tax status (seniors, disability)

Homes over $1 million add $5/$500 surtax

Commercial sales over $1 million have 1% fee

County: up to 0.1% additional tax

0.4% - 1.21%, based on value

1.0%, 

1.0%

0.1%

New Mexico

None

 

New York

 

 

Realty transfer state - $2/$500 up to $1 million; 1% additional over $1 million and some counties may levy more

 
Mortgage recording tax-state $1.00/$100

Mortgage NY City $1.00-$1.75/$100

Realty transfer NY City  1% to 2.625% based on +/- $550K home value

There are many other local option taxes with rates varying by locality

0.4% or 1.4% over $1 million, possibly more depending on county


1.0%

1% to 1.75%

1% to 2.625%



 

North Carolina

Transfer tax $1/$500

Local option to increase by up to 0.4%

0.2%

0.4%

North Dakota

None

 

Ohio

Transfer tax $0.10/100

Plus local option $0.30/100

0.4% (0.1% plus 0.3%local

Oklahoma

Deed stamp tax $0.75/$500

Mortgage registration tax $0.02-$0.10/$100, based on term of mortgage

0.15%

0.02%-0.1%

Oregon

None

 

Pennsylvania

Documentary stamp tax  1%

County rates widely vary

1%
 

Rhode Island

Realty conveyance tax $2.00/$500

0.4%

South Carolina

Deed recording fee $1.85/$500

($1.30 state, $0.55 county)

0.37%

South Dakota

$.50/$500

0.1%

Tennessee

Transfer tax $0.37/$100

Mortgage tax $0.115 /$100

0.37%

0.12%

Texas

None

 

Utah

None

 

Vermont

Property transfer tax 1.25%

Unless property is owner-occupied, in which case, tax is 0.5% on the first $100,000 of value and 1.25% over $100,000. Qualified farms - 0.5%

Plus capital gains tax on land sales, based on length of ownership

1.25%

(or marginal rates based n value)

Virginia

Transfer tax $0.50/$500

Mortgage tax $0.25/$100 up to $10 million value; more thereafter.

Local option for one-third more of state recordation tax.

$20 fee on every deed collected

Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority are authorized to impose a local realty grantor's fee of $0.40 per $100.

0.1%

0.25%

Washington

Real property sale excise tax 1.28% of sales price plus local option tax, currently ranging from 0.25%-0.75%. 

1.28%

1.53% to 2.03% combined with local option

West Virginia

Transfer tax $1.65/$500 ($1.10 state, $0.55 county) Local option for $.55 more.  Plus $20 flat fee on all transfers.

0.33%

$20.00

Wisconsin

Transfer tax $.30/$100

0.3%

Wyoming

None

 

Sources: NCSL, Commerce Clearing House State Tax Guide, September 2012.  Compiled by National Conference of State Legislatures Fiscal Affairs Program.

 

Posted September 2012.
Email statetax-info@ncsl.org for more information.

 

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