Michael Adegoke Real estate transactions involve more than just the purchase price of a home. One of the most overlooked yet significant costs is the real estate transfer tax—a fee imposed by state and local governments when property ownership changes hands. Whether you are a first-time homebuyer, a seasoned investor, or a seller preparing to close, understanding transfer … Read More
1 Real Property Tax & Business Personal Property Maryland’s Tax-Property Article authorizes AAC to levy annual real property taxes on SDAT-certified values. FY2026 county rate: $0.977 per $100; state levy: $0.112 per $100; combined: $1.089 per $100.[1] BPP (furniture, equipment, fixtures) is assessed by SDAT and taxed at $2.442 per $100; annual BPP return due April 15.[1] Homestead Credit — 2% … Read More
Alameda County’s transfer tax landscape is unusually varied because California allows chartered cities to set their own transfer tax rates independent of the county — the result is 14 different city rate structures within one county. The stakes are high: on a $2 million Berkeley sale, city tax alone reaches $33,000 in marginal brackets. On … Read More
Delaware’s transfer tax has a distinctive built-in interaction rule: the moment a county or municipality enacts a 1.5% local rate, the state drops from 3.0% to 2.5% — keeping the combined burden at 4.0%. The 50/50 default split makes both parties equally responsible absent a written agreement. The first-time homebuyer credit reduces only the buyer’s … Read More
Rhode Island’s two-tier structure imposes 0.75% on all taxable transfers while layering an identical surtax on the residential portion above the luxury threshold. Commercial and industrial property pays Tier 1 only, regardless of price. This guide uses two running examples: a $500,000 residential sale (below the threshold) and a $1,000,000 residential sale (above it). 1 Understand … Read More
Maine’s RETT is notable for two features that distinguish it from many other state transfer taxes. First, the ceiling-rounding rule means that any fractional $500 is treated as a full $500 increment — a $500,001 sale produces 1,001 increments, not 1,000. Second, the 50/50 mandatory split means both parties share the tax by law, though parties may contractually agree … Read More
Hawaii’s conveyance tax stands out for its all-or-nothing tier structure: the tier bracket determines a single rate applied to the whole price, not just the excess above each threshold. A $599,999 sale (eligible) generates $600.00 in tax; a $600,000 sale generates $1,200.00 — double the tax for one additional dollar. Parties should understand these cliff effects … Read More
Oregon’s REET structure is one of the simplest among transfer-tax states: one rate, one minor local add-on in a single county, and a straightforward taxable base. The main complexity for practitioners is the Washington County two-layer calculation, the assumed-debt inclusion rule, the 15-day post-recording deadline, and the various exemptions — each of which has a … Read More
South Dakota’s transfer fee is one of the simplest real property conveyance taxes in the country. There is a single statewide rate, no county differentials, no progressive tiers, and no base exemption to navigate. The entire calculation reduces to dividing the sale price by 500, rounding up, and multiplying by $0.50. The main complexity lies … Read More
Iowa’s transfer tax is modest by national standards — a $200,000 sale generates $319.20 in tax. Understanding the three-part base calculation, the ceiling-rounding rule, and the Declaration of Value obligation covers the entire scope of an Iowa transfer tax computation. This guide works through two examples: a standard cash home sale in Johnson County and … Read More