My city is considering a property transfer tax

accountingsucks · 04-19-2007, 07:51 PM

The city I live in is currently considering the prospect of a 1% property transfer tax on the sale of residences. Does any other city have this? I think this is ludicrous.

**Want2retire** · 04-19-2007, 08:41 PM

It is. Will it be voted on, and if so do you think voters will approve?

This is the first I have ever heard of such a tax.

farmerEd · 04-19-2007, 08:41 PM

1% is not so bad...in the Bahamas its 10%!

OAG · 04-19-2007, 08:50 PM

accountingsucks · 04-19-2007, 09:43 PM

Quote:

Originally Posted by Want2retire

It is. Will it be voted on, and if so do you think voters will approve?

This is the first I have ever heard of such a tax.

It will be voted in by city council as the provincial gov't has already given the go ahead for it

Bikerdude · 04-19-2007, 09:55 PM

In CT we have a local (City, town) tax and a State transfer tax on all real estate sales.

al_bundy · 04-20-2007, 12:14 AM

NYC along with NY state has these as well

chinaco · 04-20-2007, 03:17 AM

Just what we all need... more taxes. :P

obryanjf · 04-20-2007, 03:47 AM

PA, Lehigh County (believe it is the county) has 1% on both sides of the transaction.

job

burch64 · 04-20-2007, 06:29 AM

Franklin County Ohio charges the seller $2 per $1,000 of selling price to transfer real estate, including residential.

ScaredtoQuit · 04-20-2007, 06:45 AM

In addition to the 1% on both sides that the State of Pennsylvania imposes, I think the City of Philadelphia imposes an ADDITIONAL 2% on property transfers.

Actually from some vantage points, just 1% sounds pretty good!

tryan · 04-20-2007, 07:04 PM

In Boston it's 2% (I believe ... been a few years) ... call it a "tax stamp". Other MA cities are 1%.

04-19-2007, 07:51 PM	#1
accountingsucks Recycles dryer sheets Join Date: Jan 2006 Posts: 166	My city is considering a property transfer tax The city I live in is currently considering the prospect of a 1% property transfer tax on the sale of residences. Does any other city have this? I think this is ludicrous.

04-19-2007, 08:41 PM	#2
Want2retire Moderator Join Date: Jan 2007 Location: New Orleans Posts: 6,033	Re: My city is considering a property transfer tax It is. Will it be voted on, and if so do you think voters will approve? This is the first I have ever heard of such a tax. __________________ Dreaming of retirement.... " - - my greatest skill has been to want but little - - " (Henry David Thoreau, in Walden)

04-19-2007, 08:41 PM	#3
farmerEd Full time employment: Posting here. Join Date: Jan 2004 Posts: 697	Re: My city is considering a property transfer tax 1% is not so bad...in the Bahamas its 10%!

04-19-2007, 08:50 PM	#4
OAG Thinks s/he gets paid by the post Join Date: Jun 2006 Location: Dublin, Ohio Posts: 1,788	Re: My city is considering a property transfer tax __________________ Proud Vietnam Veteran: Cu Chi 66, 1/25th, HHC 25th and Pleiku 66-67 41st Sig Bn 1st STRATCOM

04-19-2007, 09:55 PM	#6
Bikerdude Full time employment: Posting here. Join Date: Jul 2006 Posts: 524	Re: My city is considering a property transfer tax In CT we have a local (City, town) tax and a State transfer tax on all real estate sales. __________________ “I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan

04-20-2007, 12:14 AM	#7
al_bundy Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 1,375	Re: My city is considering a property transfer tax NYC along with NY state has these as well

04-20-2007, 03:17 AM	#8
chinaco Thinks s/he gets paid by the post Join Date: Feb 2007 Posts: 2,864	Re: My city is considering a property transfer tax Just what we all need... more taxes. :P __________________ Disclaimer: I make no warranty or guarantee about the accuracy or completeness of this information. I am not a financial planner, my comments only represent my opinion.

04-20-2007, 03:47 AM	#9
obryanjf Recycles dryer sheets Join Date: May 2005 Posts: 135	Re: My city is considering a property transfer tax PA, Lehigh County (believe it is the county) has 1% on both sides of the transaction. job

04-20-2007, 06:29 AM	#10
burch64 Recycles dryer sheets Join Date: Sep 2005 Posts: 58	Re: My city is considering a property transfer tax Franklin County Ohio charges the seller $2 per $1,000 of selling price to transfer real estate, including residential.

04-20-2007, 06:45 AM	#11
ScaredtoQuit Recycles dryer sheets Join Date: Jan 2007 Posts: 149	Re: My city is considering a property transfer tax In addition to the 1% on both sides that the State of Pennsylvania imposes, I think the City of Philadelphia imposes an ADDITIONAL 2% on property transfers. Actually from some vantage points, just 1% sounds pretty good!

04-20-2007, 07:04 PM	#12
tryan Thinks s/he gets paid by the post Join Date: Mar 2005 Posts: 1,454	Re: My city is considering a property transfer tax In Boston it's 2% (I believe ... been a few years) ... call it a "tax stamp". Other MA cities are 1%. __________________ FIRE'd since 2005

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