Ohio's real estate conveyance fee is:
Question & Answer
Review the question and all answer choices
$1 per $1,000
Option A is incorrect because it only represents the state portion of the conveyance fee ($1 per $1,000) without including the county portion, which is an essential part of Ohio's total conveyance fee.
$4 per $1,000 (state and county combined)
$10 per $1,000
Option C is incorrect because it overstates the conveyance fee rate. Ohio's combined state and county fee is $4 per $1,000, not $10 per $1,000.
No transfer tax
Option D is incorrect because Ohio does have a transfer tax in the form of a conveyance fee. While some states have no transfer tax, Ohio's $4 per $1,000 fee is mandatory in most transactions.
Why is this correct?
Answer B is correct because Ohio's conveyance fee is a combined state and county fee totaling $4 per $1,000 of the sale price. The state portion is $1 and the county portion is $3, making the combined rate $4 per $1,000.
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