Field Guide to Real Estate Transfer Taxes
(Updated April 2007)
Unlike property taxes, real estate transfer taxes are state and local taxes that are assessed on real property when ownership of the property is transferred between parties. These taxes are used in many areas to fund programs designed to preserve rapidly depleting open spaces in commercial or residential areas, and to fund housing programs for low-income residents. However, transfer taxes are not without controversy. The articles and studies in this Field Guide examine what transfer taxes are, their impacts on real estate, and how REALTORS® and associations can work with state and local governments on the issue. (Karen Swanson, Information Specialist)
Contents:
Transfer Tax Basics | Transfer Tax Information from NAR | Strategies for Dealing with Transfer Taxes | Books, eBooks & Other Resources
Transfer Tax Basics
Real Estate Transfer Taxes, (The Trust for Public Land, 2007).Summary of Realty Transfer Taxes By State, (Pennsylvania Association of REALTORS®, Aug. 26, 2004).
A Guidebook of Financial Tools: Selective Sales Taxes, (U.S. Environmental Protection Agency, April 1999). - Section on Real Estate Transfer Taxes on p. 38
Real Estate Transfer Taxes, (Policy Link, n.d.).
Transfer Tax Information from NAR
Summary of Real Estate Transfer Taxes by State, (National Association of REALTORS®, Aug. 15, 2005).
The National Assocation of Realtors® Positions on Transfer Taxes, (National Association of REALTORS®, May 2003).
Potential Impacts of Increases in Real Estate Transfer Taxes, (National Association of REALTORS®, 2003).
Background, (National Association of REALTORS®, Apr. 2001).
Judicial Precedent: Transfer Taxes, (National Association of REALTORS®, Jan. 2001).
Toronto REALTORS® Try To Block Proposed Land Transfer Tax, (Realty Times, Mar. 27, 2007).
REALTORS® Oppose Plan to Raise Tax on Transfers, (RIS Media, Jan. 16, 2007).
Stop the NC Home Tax, (NC Association of REALTORS®, 2007).
Pennsylvania REALTORS® Plan to Fight Transfer Tax Proposal, (RIS Media, Dec. 14, 2006).
Analysis of a Potential Transactions Tax for Financing Eduction in Texas, (Real Estate Center, Mays Business School, Texas A&M Univeristy, Nov. 2004).
Oregon: Tax Plans Could Impact Real Estate, (REALTOR® Magazine Online, Jan. 5, 2004).
No easy tax: REALTORS® battle hard against tax threats as states look for ways to put their budgets into the black, (REALTOR® Magazine, Nov. 2002).
Real estate brokers hail demise of transfer tax, (Business First of Buffalo, Sept. 4, 2000).
Industry groups oppose tax on real estate transfers, (Boston Business Journal, Jun. 16, 2000).
Real estate industry targets transfer tax, (Business First of Buffalo, May 19, 2000).
REALTORS® Form Coalition to Fight Realty Transfer Tax “Squeeze” on Homebuyers and sellers, (Pennsylvania Association of REALTORS®, n.d.).
StopTheHomeTax.com, (Washington REALTORS®, n.d.).
Books, eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Potential Impacts of Increases in Real Estate Transfer Taxes, (Washington, DC: National Association of REALTORS®, 2003). HJ 4120 N21pi
Real estate transfer taxes and property values: The Philadelphia story, (Journal of Real Estate Finance & Economics, Sept. 1993).
Transfer taxes: a national survey, (Real Property, Probate, and Trust Journal, Winter 1984).
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to 1031 Exchanges
Field Guide to Transfer of Development Rights (TDRs)
Field Guide to Smart Growth and Growth Management
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
