| A real estate transfer tax is a one-time tax paid at | | | | of .01% in Colorado to a high of 1.28% in Washington |
| the closing of a property, and is considered a stream | | | | state.Variations on transfer taxes include; in Arizona |
| of revenue for state budgets. This transfer tax | | | | only charges a tax on deeds. However Alabama and |
| though, once collected is not generally used for | | | | Florida charge on deeds and mortgages. To avoid |
| housing-related purposes. The tax is based on the | | | | financial surprises, inquire early as to who pays (buyer |
| value of a property as agreed to by the parties in a | | | | or seller) and how much transfer taxes will be. Some |
| real estate contract.In the excitement of selling or | | | | states dictate who pays the tax, and some just |
| buying a home, often the real estate transfer tax | | | | want the tax paid. This cost can typically be |
| cost is overlooked. Depending on locale, either the | | | | negotiated between the parties. Consult an |
| buyer or seller pays the tax at closing or escrow, but | | | | experienced real estate attorney.A handy online link |
| beware in New Hampshire both the buyer and seller | | | | for transfer taxes for all fifty states. Resource |
| pay, half of 1.5%!. In some states it can be a | | | | Center/Realty Transfer Tax/Transfer tax |
| formidable amount, you should be prepared for what | | | | chart.pdfMark Nash, is a residential real estate author, |
| the transfer taxes will be, and who pays them, | | | | broker, columnist and writer based in Chicago. His |
| before you start a home search or list your home | | | | fourth book 1001 Tips for Buying and Selling a Home |
| for-sale.The good news is, thirteen states don't have | | | | received eighteen five star reviews on His latest |
| a real estate property tax. They are: Alaska, Idaho, | | | | book; Real Estate A-Z for Buying & Selling a Home |
| Indiana, Louisiana, Mississippi, Missouri, Montana, New | | | | will be published in December 2006. Mark publishes a |
| Mexico, North Dakota, Oregon, Texas, Utah, and | | | | free monthly ezine for real estate professionals. |
| Wyoming.The bad news is that the remaining | | | | Agent to Agent features ten articles that offer free |
| thirty-seven states and The District of Columbia | | | | reprints for agents, home buyers and sellers through . |
| charge taxes on the transfer of a property. The tax | | | | Real estate news and book reviews, Celebrity |
| is only levied once when a property is exchanged | | | | Homestyles, Home selling and buying tips and advice, |
| between parties, unlike general property taxes which | | | | Joke-of-the-Month, Help this Agent, and agent |
| are paid annually and are based on the assessed | | | | marketing tips. Over 5000 subscribers in the U.S. & |
| value. Real estate transfer taxes range from a low | | | | Canada. |