Bill Topic Area:
Current law, generally, requires a person who conveys an interest in real property to file a real estate transfer return with the county register of deeds and pay a real estate transfer fee equal to 30 cents for each $100 of the value of the conveyance. The county retains 20 percent of the fees collected and transmits the remainder to the state.
This bill decreases the real estate transfer fee from 30 cents to 20 cents for each $100 of the value of the conveyance. Under the bill, the county retains 30 percent of the fees collected in 2023 and 2024, 40 percent of the fees collected in 2025, and
50 percent of the fees collected in 2026 and each year thereafter.
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