Real Estate Transfer Tax Law

Real Estate Transfer Tax Law is a tax imposed by state or local governments on the transfer of property ownership from one person to another. When you buy or sell real estate, this tax is often calculated based on the sale price and is usually paid at the closing of the transaction. The revenue generated supports local services like schools, infrastructure, and public safety. Rates and regulations can vary widely, so it’s important to check local laws to understand the specific tax liabilities associated with a real estate transaction in your area.