ValuationRealty_transfer_tax_calculationEASY
Under Tennessee law, what is the state realty transfer tax rate applied to the transfer of real property?
Correct Answer
D) $0.37 per $100 of consideration or fraction thereof
Under Tenn. Code Ann. § 67-4-409, Tennessee imposes a realty transfer tax of $0.37 per $100 of consideration (or fraction thereof) on the transfer of real property. This rate is specific to Tennessee and is a foundational fact tested on the state exam.
Answer Options
A
$0.27 per $100 of consideration or fraction thereofB
$0.57 per $100 of consideration or fraction thereofC
$0.47 per $100 of consideration or fraction thereofD
$0.37 per $100 of consideration or fraction thereofWhy This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
realty_transfer_taxtax_ratetennessee_specific
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