Sunday, June 21, 2009

Property Transfer Tax Increases July 1st

In spite of efforts by Cape Realtors in opposition to a tax increase, a 42 cents per thousand increase in the Deeds Excise Tax will take effect beginning July 1st, 2009, bringing the tax to $6.12 per thousand on the transfer of property in Barnstable County. This, of course, includes sales of Eastham, Orleans, and Wellfleet homes. As an example, the sale of a $500,000 home will need to pay a tax of $3,060 at transfer, compared to the current tax of $2,850, for an increase of $210.

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