Transfer Of TitleTaxesMEDIUM
Michigan's transfer tax rate is:
Correct Answer
A) $3.75 per $500 of value (state) plus county portion
Michigan's state transfer tax is $3.75 per $500 of value, plus counties may impose an additional $0.55 per $500.
Answer Options
A
$3.75 per $500 of value (state) plus county portionB
1% of sale priceC
No transfer taxD
$1.00 per $1,000Audio Lesson3 min
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Related Topics & Key Terms
Related Topics:
closing-costs-calculationseller-disclosure-requirementsreal-estate-closing-procedures
Key Terms:
transfer taxMCL 207.521$3.75 per $500county transfer taxclosing costs
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