Transfer Tax

Transfer tax is a government-imposed fee required when property or assets are transferred from one owner to another, such as during the sale of real estate. This tax is typically calculated as a percentage of the property's sale price or value. Both buyer and seller may be responsible for paying it, depending on local laws. Transfer taxes help fund public services, like education and infrastructure. It's important to consider this cost when buying or selling property, as it can add to the overall expense of the transaction.