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Real Property Transfer Tax and its Many Aliases

In many states, transfers of real property are subject to a transfer tax—sometimes referred to as a deed transfer tax, real property transfer tax, deed excise tax, real estate excise tax, documentary transfer tax, and state conveyance tax—which is paid to the state, county, municipality, or school district in which the subject property is located. The amount of this tax usually derives from the amount of consideration paid for the transfer and may vary significantly depending on the applicable government entity levying the tax. In certain cities, the transfer tax rate increases based on the consideration paid or the gross value of the property. City taxes can significantly impact high value real property sales. For instance, the City of Los Angeles recently approved an additional transfer tax, known as the “mansion tax,” on real property sales valued at $5 million and above. Click below to read about the Los Angeles mansion tax.

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Related Content

• Deed Transfer Tax State Law Survey
  Use this resource to determine whether a deed transfer tax is applied in each of the 50 states and the District of Columbia. This state law survey also identifies whether the tax occurs at the state level, the local level, or both, and the relevant tax rates and the governing statutory authority.

• State Laws and Customs Toolkit Guidance
  Check out this toolkit for additional information regarding transfer tax, including a link to a handy chart outlining the party who is customarily responsible for paying transfer tax in each of the 50 states and the District of Columbia.

• Tax, Environmental, and Property Condition Forms State Law Survey
  Review this state law survey for withholding and transfer tax reporting forms that generally must be submitted to transfer commercial real property.

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