Transfer Tax Exempt

Did you know when you sell your home you may be exempt for the State Transfer Tax? Here is how it works........Look at your current tax bill's SEV ( State Equalized Value ), then look at the SEV from the year you purchased the home. If your SEV is lower in the year you are selling then the year you purchased AND the selling price is less than twice the current SEV, your home qualifies!! Here is an where we helped one of my clients earlier this month: Already 2 of my sellers have qualified this month. Purchased the home in 2005, SEV was $59,800. Sold the home in 2012, SEV was now $59,100. Selling price of the home was $100,000. We saved our client $772 in State Transfer Tax! This is a service that my assistant and I provide. Most agents don't even know this exists. For more information please give me a call at 616-502-8897.

Posted By: Luke Bouman

Posted On: 07-19-2012 @ 8:46:56 AM GMT