Frequently Asked Question - What are transfer taxes?
Frequently Asked Questions
What are transfer taxes?
Transfer tax is for the sale or other transfer or real estate. It is levied by the county and the state in Michigan. County transfer tax of $1.10 per $1,000. State transfer tax of $7.50 per $1,000. There are numerous exemptions from these taxes. For instance, sales where no monetary value is attributed to the transaction or where the transaction is between current co-owners of the property.