Reminder: New Recordation Tax Rates Effective September 1
* $8.90 per $1,000 on the first $500,000
* $13.50 per $1,000 on the amount over $500,000
For buyers who intend to use a property as their principal residence, the first $100,000 is free from recordation tax.
The new rates apply to any transaction that occurs on or after September 1, 2016. Amendments will be made to GCAAR forms to reflect the change.
View the Council's Official Memo here and consult an attorney for specifics.
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