How to Use the Real Estate Transfer Tax Calculator
Unlike Korea's officetel, which always carries a flat 4.6% acquisition tax regardless of residential or commercial use, the US has no single national rate — real estate transfer tax (sometimes called a deed tax, conveyance tax, or recording tax) is set independently by each state and often layered with county or city surcharges.
Rates range enormously: several states charge no transfer tax at all, most fall in a modest 0.1%-1% range, and high-cost cities like New York City add steep surcharges — including a "mansion tax" that can push the combined rate above 2% on expensive properties. This calculator lets you pick a representative tier to see the rough dollar impact.
Before closing, always check your specific state, county, and city rules — some jurisdictions base the tax on the sale price, others on assessed value, and a few offer exemptions for first-time or owner-occupant buyers. Your closing disclosure will show the exact amount due.
Frequently Asked Questions
It depends on the state — most states apply the same base transfer tax rate regardless of residential intent, though a handful offer homestead exemptions or reduced rates for owner-occupied purchases. Check your specific state and county rules.
Real estate transfer taxes are set at the state and sometimes county/city level in the US, so rates range from 0% in states with no transfer tax to over 2% combined in high-cost cities like New York City with its 'mansion tax' surcharge on expensive properties.
This varies by state and is often negotiable in the purchase contract — in some states the seller customarily pays, in others the buyer does, and in a few it's split between both parties.