Expert, localized Los Angeles answers provided by Heather Roy

Ask Heather about: Mortgages, Finance, Taxes or Home Selling?
  

Tax on Selling

  What is the sales tax rate for my area? Am I responsible for sales tax on selling my home?
 
 

Michigan charges the seller a real estate transfer tax, which may be as high at $7.50 per $1,000 of sale price.  In addition, some Michigan counties charge a transfer tax, usually about $1.10.  Many other states have transfer taxes -- in my state, New York, it's about $4 per thousand.  Michigan's is probably among the highest, though there are probably some adjustments and exceptions.

    Edith
Originally published on October 10, 2007
 
    Back to Summary