Real estate transfer taxes are taxes imposed on the transfer of title of real property. In most cases it is an ad valorem tax that is based on the value of the property transferred. A majority of states and the District of Columbia provide for this tax but 13 states do not. The state statutes may or may not stipulate who (buyer or seller) is responsible for paying the tax. In addition, most statutes list a number of cases where the transfer is exempt from taxation. The National Association of Realtors ® has taken an official policy position in opposition to real estate transfer taxes.
| State |
Transfer Fee |
Transfer Fee Rate |
| Alabama |
Deeds $.50/$500
Mortgages $.15/$100 |
0.1%
0.15% |
| Alaska |
None |
|
| Arizona |
$2 per deed or contract |
|
| Arkansas |
$3.30/$1,000 |
0.33% |
| California (local) |
$.55/$500 |
0.11% |
| Colorado |
$.01/$100 |
0.01% |
| Connecticut |
Varies |
0.5% up to $800K and 1% of value over $800K; plus 0.11% |
| Delaware |
|
1.5% - 2% |
| District of Columbia |
|
1.5% over $250K
1.1% up to $250K for homestead |
| Florida |
Deeds $.70/$100
Mortgages $.35/$100 |
0.7%
0.35% |
| Georgia |
$.10/$100 |
0.1% |
| Hawaii |
$.10/$100 |
0.1% |
| Idaho |
None |
|
| Illinois |
Chicago - $3.75/$500
Cook County - $.25/$500
State - $0.50/$500 |
0.75%
0.05%
0.10% |
| Indiana |
None |
|
| Iowa |
$.80/$500 |
0.16% |
| Kansas |
Mortgage $.26/$100 |
0.26% |
| Kentucky |
$.50/$500 |
0.1% |
| Louisiana |
None |
|
| Maine |
$2.20/$500 |
.44% |
| Maryland |
|
0.5% (0.25% for first-time buyers) |
| Massachusetts |
$2/$500 |
0.456% (0.4% plus 14% surtax); also $10-$20 surcharge |
| Michigan |
State - $3.75/$500
County - $.55/$500 - $.75/$500 depending on population |
0.75%
0.11% - 0.15% depending on population |
| Minnesota |
$1.65/$500 |
0.33% |
| Mississippi |
None |
|
| Missouri |
None |
|
| Montana |
None |
|
| Nebraska |
$1.75/$1,000 |
0.175% |
| Nevada |
$.65/$500 up to 400K county population
$1.25/$500over 400K county population |
0.13% up to 400K county pop.
0.25% over 400K county pop. |
| New Hampshire |
$.75/$100 paid by both buyer and seller |
1.5% |
| New Jersey |
$2.00/$500 up to $150K
$3.35/$500 from $150K to $200K
$3.90/$500 over $200K |
0.4% up to $150K
0.67% from $150K to $200K
0.78% over $200K
County up to 0.1% additional tax |
| New Mexico |
None |
|
| New York |
Property transfer - $2/$500 up to $1 million; 1% additional over $1 million Mortgage recording New York City |
0.4% up to $1 million value; addl.
1.0% over $1 million
1.0%
1% up to $500K value; 1.425% over $500K |
| North Carolina |
$1/$500 |
0.2% |
| North Dakota |
None |
|
| Ohio |
|
0.1% plus 0.3% local |
| Oklahoma |
$.75/$500 |
0.15% |
| Oregon |
None |
|
| Pennsylvania |
Local varies |
1% plus $2 |
| Rhode Island |
$2.00/$500 |
0.4% |
| South Carolina |
$1.85/$500 ($1.30 state, $.55 county) |
0.37% (state-county combination) |
| South Dakota |
$.50/$500 |
0.1% |
| Tennessee |
$.37/$100 |
.37% |
| Texas |
None |
|
| Utah |
None |
|
| Vermont |
Tax on gains; varies with length of time owned |
|
| Virginia |
$.15/$100 on sales up to $10 million; varies thereafter |
0.03% - 0.15% depending upon sales price |
| Washington |
|
1.28% of sales price plus local taxes |
| West Virginia |
$1.65/$500 ($1.10 state, $.55 county) |
0.33% (state-county combination) |
| Wisconsin |
$.30/$100 |
0.3% |
| Wyoming |
None |
|
| |
|
|
Sources: Assessment Journal , International Association of Assessing Officers, November/December 1997; Commerce Clearing House State Tax Guide 2001. Compiled by National Conference of State Legislatures Fiscal Affairs Program. Updated by NAR from various sources 7/17/03. |
