How this number is made
Transfer tax is local. Some places charge a percent of the price, some charge per $500 of price, and some add a surtax above a threshold. This page is a single percent. Look up the rate and type it. The default 0.5% is an illustration, not your county.
- Confirm who pays, buyer or seller. The page only computes the tax.
- If the rate is per $500, convert it to a percent before you type it.
Formula
Tax = price × rate.
Worked example
With the figures already in the form, transfer tax is $2,250.
Questions
Is this the same as property tax?
No. Property tax is annual. Transfer tax is usually due because the deed changed hands.
Are first-time buyer exemptions included?
No. If you are exempt, the tax is zero. Type zero.