The current rate for the state conveyance tax is $5.00 per every one thousand dollars of consideration on all residential and undeveloped land up to $800,000. The tax increases to $10.00 per every one thousand dollars on the excess over $800,000. All commercial transactions are taxed at the rate of $10.00 per every one thousand dollars of consideration.

The municipal conveyance tax is $1.10 for every one thousand dollars of consideration.

The seller customarily pays the conveyance taxes.

References:

Related Bulletins: None.