The Berra's Lake of the Ozarks Real Estate Blog

Real Estate Transfer Tax in Missouri????
February 8th, 2010 12:34 PM

  

Missouri is in the minority in the United States as far as having a real estate transfer tax, and we hope it stays that way. It is presently one of only 13 states that do not impose transfer taxes. A real estate transfer tax is a one-time tax paid at the closing of the property. Like a sales tax, a transfer tax would charge every seller a percentage of the total sales price. In some states, it is as high as 4% of the sales price.

The Missouri government currently has the power to enact a transfer tax at any time, but the Missouri Association of Realtors is leading the charge to amend the state constitution and prohibit the real estate transfer tax for good.

A 2010 ballot initiative is already in place. A "YES" vote means changing the Missouri Constitution to prevent the state or local government from ever charging new taxes on the sale of a home or property.

For additional information, go to www.yestosavehomes.com

 

 

 


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Posted by Mike and Susie Berra on February 8th, 2010 12:34 PMPost a Comment

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