Vickie Overby

Now, Just What is a Real Estate Transfer Tax?

Real estate transfer taxes are imposed on the sale or transfer of real property. According to a 2006 study from the Federation of Tax Administrators, thirty-five states plus D.C. impose a real estate transfer. Tax rates range from a low of 0.01 percent in Colorado to a high of 2.2 percent in D.C. In about 2/3 of the states imposing the tax, the rate is below 0.5 percent of the value of the transfer. Nationwide this raised approximately $7 billion for state and local governments in fiscal year 2004.  –wikipedia Estancia 

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