California Documentary Transfer Taxes - What are they and how much do they cost? Here's the answer.....
In any California escrow, usually around line numbers 1200-1205 of the HUD, you'll see a section for transfer taxes.
Ever wonder what those are and how they're calclulated?
Documentary transfer taxes are taxes that counties, cities, or both may charge on documents that grant, assign, transfer or convey real property when the consideration or value, excluding the value of any lien or encumbrance remaining at the time of sale, exceeds $100. Some cities have, by ordinance, imposed a documentary transfer tax in addition to the county documentary transfer tax.
The authorized transfer tax rate in California is $1.10 for each $1,000 of the consideration or value of the property transferred, exclusive of the value of any lien or encumbrance remaining at the time of sale. The documentary transfer tax may vary from city to city. The following list will help you determine how much your documentary transfer taxes will be. Keep in mind that even if your city does not appear on the list you will still pay the $1.10 per $1,000 for the County documentary transfer tax.
Chart courtesy of Greg Lane, Lawyers Title - 310/345-7801
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