# transfer-tax-rates.yaml
# State-by-state real property transfer tax, recordation tax, and documentary stamp rates.
# Includes county/municipal surcharges where significant, buyer/seller allocation conventions,
# 1031 exchange treatment, UPREIT exemptions, and state-level FIRPTA equivalents.
# Rates effective mid-2025; verify current schedules before closing.

meta:
  last_reviewed: "2025-08-01"
  source_note: "Compiled from state statutes and revenue department guidance; verify current rates"
  base_tax: "All rates applied to purchase price (consideration) unless noted otherwise"
  disclaimer: "Reference guide only; confirm with local title company and counsel"

# =============================================================================
# HIGH-VOLUME COMMERCIAL REAL ESTATE STATES
# =============================================================================

states:

  # ---------------------------------------------------------------------------
  NY:
    name: "New York"
    state_transfer_tax:
      rate: 0.004  # 0.4% = $4 per $1,000
      applies_to: "All conveyances; residential and commercial"
      threshold: "$500 consideration minimum"
      example_15m: "$60,000"
    nyc_transfer_tax:
      applies_to: "Property located within NYC (5 boroughs) only"
      rates:
        residential_under_500k: 0.01   # 1.0%
        residential_500k_plus: 0.01425 # 1.425% (also applies to commercial $500K+)
        commercial: 0.01425            # 1.425% for commercial property $500K+
      note: "For commercial property in NYC, rate is 1.425% of consideration"
      example_15m: "$213,750 (NYC) + $60,000 (NY State) = $273,750"
    mansion_tax:
      applies_to: "Residential property >= $1,000,000; NOT applicable to commercial"
      tiers:
        - { threshold: 1000000, rate: 0.01 }
        - { threshold: 2000000, rate: 0.0125 }
        - { threshold: 3000000, rate: 0.015 }
        - { threshold: 5000000, rate: 0.02025 }
        - { threshold: 10000000, rate: 0.0225 }
        - { threshold: 15000000, rate: 0.0250 }
        - { threshold: 20000000, rate: 0.029 }
        - { threshold: 25000000, rate: 0.029 }
      payer: "Buyer (not seller)"
    typical_payer:
      state_transfer_tax: "Seller (customary; PSA may allocate otherwise)"
      nyc_transfer_tax: "Seller (customary)"
    mi_transfer:
      treated_as_real_property_transfer: true
      note: "NY treats transfer of controlling interest in entity holding NY real property as real property transfer; RETT applies"
      controlling_interest: "50% or more of interest in entity within 3-year period"
    firpta_equivalent:
      name: "NY State estimated tax payment for non-resident sellers"
      rate: "6.85% of gain (individual NRAs)"
      form: "IT-2663 (non-resident real property estimated income tax payment)"
      corporate_seller: "9.0% of gain (C-Corp)"
    recording:
      deed_recording: "County clerk in county where property is located"
      fee_structure: "Per-page fee plus per-document fee; varies by county"
      typical_total: "$500-$2,000 for commercial deed"
    exemptions:
      - "Transfer to government entity"
      - "Transfer to not-for-profit (confirm qualifying)"
      - "Transfer to correct deed (no consideration)"
      - "1031 exchange: NO exemption from NY transfer tax; tax still applies"
      - "UPREIT contribution: NY generally taxes; confirm with counsel"

  # ---------------------------------------------------------------------------
  CA:
    name: "California"
    state_transfer_tax:
      rate: 0.0011  # $1.10 per $1,000 = 0.11%
      applies_to: "All deeds conveying real property for consideration"
      county_administered: true
      note: "Collected by county recorder at time of recording"
    county_surtax:
      la_county:
        rate: 0.004  # $4.50 per $1,000 additional (City of Los Angeles)
        note: "City of Los Angeles levies additional 0.45%; Measure ULA adds 4-5.5% for high-value properties"
        measure_ula: "Applies to residential and commercial sales >= $5M in City of LA; 4.0% ($5M-$10M), 5.5% (>$10M)"
      sf_county:
        rate: 0.005  # SF: 0.5% base; higher tiers for luxury
        sf_transfer_tax_tiers:
          - { threshold: 250000, rate: 0.0075 }
          - { threshold: 1000000, rate: 0.015 }
          - { threshold: 5000000, rate: 0.025 }
          - { threshold: 10000000, rate: 0.030 }
          - { threshold: 25000000, rate: 0.055 }
          - { threshold: 100000000, rate: 0.060 }
    typical_payer:
      state_transfer_tax: "Seller (customary; split 50/50 in some Northern CA markets)"
    grant_deed:
      note: "California uses grant deed (equivalent to special warranty deed); warranty is implied by statute"
    mi_transfer:
      treated_as_real_property_transfer: false  # No state-level controlling interest transfer tax
      county_exception: "Some counties (Los Angeles) do not impose additional transfer tax on MI transfers"
    firpta_equivalent:
      name: "CA Withholding on sale of California real property"
      rate: "3.33% of gross selling price (or 12.3% of gain, whichever is less)"
      form: "Form 593 (Real Estate Withholding Statement)"
      applies_to: "Non-resident individuals and entities selling CA real property"
      exemptions:
        - "Seller certifies CA residency (or CA entity)"
        - "Transaction is like-kind exchange (1031)"
        - "Gain is excluded under IRC 121 (principal residence)"
    recording:
      county_recorder: "County where property is located"
      fee_structure: "Per-page fee (typically $15-25/page for first page; $3/page thereafter)"
    exemptions:
      - "Interspousal transfers"
      - "Transfer to qualifying affordable housing"
      - "Parent-child exclusion (Prop 19 limitations)"

  # ---------------------------------------------------------------------------
  FL:
    name: "Florida"
    documentary_stamp_tax_deed:
      rate: 0.007  # $0.70 per $100 = 0.7%
      minimum: "$0.70"
      applies_to: "Consideration paid for transfer of real property"
      miami_dade_note: "Miami-Dade County applies surtax for certain transactions; $0.45 per $100 additional"
    documentary_stamp_tax_mortgage:
      rate: 0.0035  # $0.35 per $100 on new mortgage
      applies_to: "New mortgage on Florida real property"
      note: "Buyer's financing cost"
    intangible_tax:
      rate: 0.002  # $2 per $1,000 on new mortgage note
      applies_to: "New mortgage note secured by FL real property"
      payer: "Buyer"
    typical_payer:
      doc_stamps_deed: "Seller (required by statute)"
      doc_stamps_mortgage: "Buyer (required by statute)"
      intangible_tax: "Buyer"
    deed_witnesses:
      required: true
      count: 2
      note: "FL requires two witnesses for deed execution; at least one witness must sign in the presence of the grantor"
    mi_transfer:
      treated_as_real_property_transfer: false
      note: "FL does not impose documentary stamps on MI transfers (as of 2025); confirm with FL counsel"
    firpta_equivalent:
      name: "None -- Florida has no income tax and no state-level withholding for non-residents"
    recording:
      county_clerk: "Clerk of Circuit Court in county where property is located"
    exemptions:
      - "Government entity transfers"
      - "Transfer without consideration (confirmatory deed)"
      - "Nominal consideration deed ($10 deed): stamps on $10 only; requires sworn statement of actual consideration attached separately"

  # ---------------------------------------------------------------------------
  TX:
    name: "Texas"
    state_transfer_tax:
      rate: 0  # No state transfer tax in Texas
      note: "Texas has NO real property transfer tax at the state level"
    county_transfer_tax:
      rate: 0  # No county-level transfer tax
    recording:
      county_clerk: "County clerk in county where property is located"
      fee_structure: "Per-page fee; typically $25 first page, $4 each additional page"
    mi_transfer:
      treated_as_real_property_transfer: false
      note: "No transfer tax in TX; MI transfer has no transfer tax implications"
    firpta_equivalent:
      name: "None -- Texas has no state income tax"
    typical_total: "$0 transfer tax; recording fee only (~$100-$300)"
    note: "Texas is a no-transfer-tax state; this is a significant cost advantage for high-value transactions"

  # ---------------------------------------------------------------------------
  IL:
    name: "Illinois"
    state_transfer_tax:
      rate: 0.001  # $1.00 per $1,000 = 0.1%
      applies_to: "Real property transfers"
    cook_county_transfer_tax:
      rate: 0.0015  # $1.50 per $1,000
      applies_to: "Property in Cook County (Chicago)"
    city_of_chicago_transfer_tax:
      rate: 0.00375  # $3.75 per $1,000 (buyer pays $3.75 + seller pays $1.50 in city)
      note: "Chicago imposes both buyer and seller transfer taxes"
      buyer_rate: 0.00375
      seller_rate: 0.0015
    typical_payer:
      state_transfer_tax: "Seller"
      cook_county_tax: "Seller"
      chicago_buyer_tax: "Buyer"
    mi_transfer:
      note: "IL does not have a controlling-interest transfer tax at the state level"
    firpta_equivalent:
      name: "IL withholding for non-resident sellers"
      rate: "5.0% of proceeds"
      exemptions: "IL resident seller, exchange transaction"
    example_15m_chicago: "$15,000 (state) + $22,500 (Cook County) + $56,250 (Chicago buyer) = $93,750 combined"

  # ---------------------------------------------------------------------------
  WA:
    name: "Washington"
    real_estate_excise_tax_reet:
      graduated_rates:
        - { threshold: 500000, rate: 0.0128 }
        - { threshold: 1500000, rate: 0.0128 }
        - { threshold: 3000000, rate: 0.0278 }
        - { threshold: null, rate: 0.03  }  # > $3M
      note: "Graduated rates applied to incremental slices, not flat rate on full amount"
      example_15m: "$1,500,000 * 1.28% + $1,500,000 * 1.28% + $12,000,000 * 3.0% = $403,200"
    local_reet:
      rate: 0.0050  # 0.5% additional local REET
      note: "Local REET of 0.5% applies in addition to state REET"
    mi_transfer:
      treated_as_real_property_transfer: true
      controlling_interest: "50% or more of beneficial interest transferred within 12 months"
      note: "WA REET applies to controlling interest transfers"
    firpta_equivalent: "None"
    typical_payer: "Seller"

  # ---------------------------------------------------------------------------
  NJ:
    name: "New Jersey"
    realty_transfer_fee_rtf:
      rates:
        - { threshold: 350000, rate: 0.01  }
        - { threshold: 550000, rate: 0.01 }   # additional surtax on >$350K
        - { threshold: 1000000, rate: 0.01 }
        - { threshold: null, rate: 0.01 }
      note: "Complex tiered calculation with multiple surtaxes; effective rate ~1.0-1.21% for large commercial"
      example_15m: "Approximately $181,500 (effective rate ~1.21%)"
    buyer_transfer_tax:
      applies_to: "Purchases > $1,000,000"
      rate: 0.01  # 1.0% additional on purchase > $1M (mansion tax, also applies to commercial)
      note: "NJ's mansion tax applies to all real property > $1M, not just residential"
    mi_transfer:
      treated_as_real_property_transfer: true
      controlling_interest: "80% or more of interest"
      realty_transfer_fee_applies: true
    firpta_equivalent:
      name: "NJ Gross Income Tax withholding (GIT/REP)"
      rate: "8.97% of gain (non-resident seller)"
      form: "GIT/REP-1 or GIT/REP-2"
      applies_to: "Non-NJ resident sellers of NJ real property"

  # ---------------------------------------------------------------------------
  MD:
    name: "Maryland"
    state_transfer_tax:
      rate: 0.005  # 0.5%
      note: "Paid by buyer in most transactions"
    county_transfer_tax:
      range: "0.5% - 1.5% depending on county"
      montgomery_county: 1.0%
      prince_georges_county: 1.4%
    recordation_tax:
      rate: "Varies by county; typically $3.30-$7.00 per $500 of consideration"
      note: "Separate from transfer tax; paid at recording"
    firpta_equivalent:
      name: "MD withholding on non-resident seller"
      rate: "7.5% of taxable gain (entity) or 8.25% (individual)"
    mi_transfer:
      treated_as_real_property_transfer: false
      note: "MD does not impose transfer tax on MI transfers (confirm current law)"

  # ---------------------------------------------------------------------------
  DC:
    name: "District of Columbia"
    deed_recordation_tax:
      commercial_rate: 0.0155  # 1.55% (commercial)
      residential_rate: 0.01125  # 1.125% < $400K; 1.45% $400K+
    deed_transfer_tax:
      commercial_rate: 0.0155  # 1.55% additional
      note: "TOTAL effective rate for commercial in DC: ~3.1% combined (recordation + transfer)"
    typical_payer: "Split buyer/seller per PSA; often 50/50 by convention"
    mi_transfer:
      treated_as_real_property_transfer: true
      note: "DC imposes recordation tax on controlling interest transfers"
    firpta_equivalent:
      name: "DC withholding for non-DC sellers"
      rate: "8.25% of gain"

  # ---------------------------------------------------------------------------
  GA:
    name: "Georgia"
    real_estate_transfer_tax:
      rate: 0.001  # $1.00 per $1,000 = 0.1%
      minimum: "$1.00"
      example_15m: "$15,000"
    deed_witnesses:
      required: true
      count: 2  # Grantor + 2 witnesses + notary
    mi_transfer:
      treated_as_real_property_transfer: false
    firpta_equivalent: "None (Georgia has no withholding requirement for non-resident sellers)"

  # ---------------------------------------------------------------------------
  PA:
    name: "Pennsylvania"
    realty_transfer_tax:
      state_rate: 0.01  # 1.0% state
      local_rate: "1.0% average local; Philadelphia imposes additional 3.278%"
      combined_typical: "2.0% outside Philadelphia"
      philadelphia: "4.278% combined (1.0% state + 3.278% Philadelphia)"
    typical_payer: "Split 50/50 buyer and seller (customary)"
    mi_transfer:
      treated_as_real_property_transfer: true
      threshold: "Direct or indirect interest of 90% or more"
      note: "PA imposes realty transfer tax on controlling interest transfers >= 90%"
    firpta_equivalent:
      name: "PA withholding for non-resident sellers"
      rate: "3.07% of gain"
      form: "PA-1000 or PA REV-1847"

  # ---------------------------------------------------------------------------
  CO:
    name: "Colorado"
    documentary_fee:
      rate: 0.0001  # $0.10 per $100 of consideration = 0.01%
      minimum: "$0.10"
      note: "Extremely low; essentially a recording filing fee"
      example_15m: "$1,500"
    county_recording:
      fee_structure: "Per-page fee; varies by county"
    mi_transfer:
      treated_as_real_property_transfer: false
    firpta_equivalent:
      name: "CO withholding for non-resident sellers"
      rate: "2% of selling price (or actual tax, whichever is less)"
      form: "Form DR 1079"

  # ---------------------------------------------------------------------------
  AZ:
    name: "Arizona"
    real_property_transfer_tax:
      rate: 0  # Arizona does NOT impose a transfer tax on real property
      note: "No state or county transfer tax; recording fee only"
    recording:
      fee_structure: "County recorder; per-page fee"
    mi_transfer:
      treated_as_real_property_transfer: false
    firpta_equivalent: "None"

  # ---------------------------------------------------------------------------
  NC:
    name: "North Carolina"
    excise_tax:
      rate: 0.002  # $2.00 per $1,000 = 0.2%
      applies_to: "Conveyance of real property by deed"
      example_15m: "$30,000"
    typical_payer: "Seller"
    mi_transfer:
      treated_as_real_property_transfer: false
    firpta_equivalent:
      name: "NC withholding for non-resident sellers (entity)"
      rate: "2% of sales price"
      form: "Form NC-1099NRS"

# =============================================================================
# STATES WITH NO TRANSFER TAX
# =============================================================================

no_transfer_tax_states:
  - TX   # No state or local transfer tax
  - AZ   # No state transfer tax (county recording fee only)
  - WY   # No transfer tax
  - ID   # No transfer tax (small fee)
  - MT   # No transfer tax
  - ND   # No transfer tax (small deed tax)
  - NM   # No transfer tax
  - MO   # No transfer tax (recording fee only)
  - IN   # No state transfer tax (some counties)
  - MS   # No transfer tax
  note: "Even in no-transfer-tax states, recording fees and other filing fees apply"

# =============================================================================
# 1031 EXCHANGE TREATMENT BY STATE
# =============================================================================

exchange_transfer_tax:
  states_that_exempt_1031:
    - CA  # CA does not impose transfer tax on 1031 exchanges (confirm per county)
    note: "Exemption availability varies; confirm with local counsel"
  states_that_do_not_exempt:
    - NY  # NY transfer tax applies even in 1031 exchange context
    - NJ  # NJ RTF applies to 1031 exchanges
    - PA  # PA realty transfer tax applies
    - WA  # WA REET applies
    general_rule: "Most states do NOT exempt 1031 exchanges from transfer tax; only the federal income tax gain is deferred"

# =============================================================================
# REIT / UPREIT EXEMPTIONS
# =============================================================================

reit_exemptions:
  states_with_reit_exemptions:
    - { state: "MD", note: "Maryland exempts certain REIT transfers" }
    - { state: "VA", note: "Virginia exempts REIT-to-OP contributions in some circumstances" }
  generally_not_exempt:
    note: "Most states do not provide a specific exemption for UPREIT contributions; transfer tax applies"
    planning: "Structure as assumption of debt with minimal cash consideration in low-rate states"