A tool designed for estimating the state’s Realty Transfer Tax provides property buyers and sellers in the Granite State with an estimate of this closing cost. This tax, levied on the conveyance of real estate, is typically paid at closing and is based on the property’s sale price. For example, a transaction involving a $400,000 property would incur a tax of $1,400, calculated at a rate of $0.70 per $100 of the sale price. This digital resource allows users to input the property’s sale price to quickly and easily determine the estimated tax.
Accurate calculation of this expense is crucial for both buyers and sellers during real estate transactions. Understanding the tax implications upfront enables informed financial planning and avoids unexpected costs at closing. Historically, this tax has played a significant role in funding state and local government initiatives. By providing readily accessible estimation tools, the state facilitates transparency and efficiency in the property transfer process.
