Real Estate Transfer Taxes and why you should pay attention to them.
Many states are using Real Estate Transfer Taxes (RETT’s) to increase government revenues. These taxes go by a variety of names such as; realty transfer tax, document stamp tax, and real estate excise tax. Often these taxes can be as low as a few dollars a transaction to, as much as, 3% – 4% of the sale price of the property.Haws Consulting Group can help make sure that what is considered as part of this tax is calculate correctly by the government agency applying this tax. There are some types of costs that are part of the sales consideration that can be excluded from the transfer tax calculation. We make sure that the transfer tax calculations are based only on amounts subject to this tax.