Taxes

TRANSFER TAXES FOR REAL PROPERTY SELLERS

Select a jurisdiction to review transfer taxes for property sellers paid to the local government at closing for a residential property.

  • District of Columbia

    Transfer Tax

    • Transactions $399,999 and under are taxed at a rate of 1.1% of the purchase price.
    • Transactions $400,000 and above are taxed at a rate of 1.45% of the purchase price.
      • Example 1: $300,000 x 1.1% = $3,300
        Seller pays $3,300 transfer tax. Buyer pays $3,300 recordation tax. The local government receives a total of $6,600 in transfer & recordation taxes.
      • Example 2: $500,000 x 1.45% = $7,250
        Seller pays $7,250 transfer tax. Buyer pays $7,250 recordation tax. The local government receives a total of $14,500 in transfer & recordation taxes.

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    UPDATED 5 JUNE 2020 | INFORMATION RELIABLE BUT NOT GUARANTEED.

  • Maryland

    Transfer tax

    • State Transfer Tax is 0.5% of purchase price for all counties
    • State Recordation or Stamp Tax (see chart below)
    • County Transfer Tax (see chart below)

    Taxes are customarily split 50/50 between the buyer and seller.

    The chart below shows the total amount of taxes, by county, to be paid at settlement based on the purchase price of the property.

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    Property taxes

    Further Reading: Real Estate Tax and Escrow Reserves Explained

    Principal residences are paid semi-annually, and non-principal residences and investment properties are paid annually.

    For principal residences:

    • Taxes due on 9/30 for the period of 7/1 – 12/31
    • Taxes due on 12/31 for the period of 1/1 – 6/30

    For non-principal residences and investment properties:

    • Taxes due on 9/30 for the period 7/1 – 6/30

    UPDATED 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED

  • Virginia

    Transfer tax

    • Grantor’s Tax = $1.00 per $1000 of the sales price

    Recording fees (Deeds, Deeds of Trust, etc.)

    $33 to record a deed and $66 to record a mortgage, regardless of the number of pages in the documents. This generally results in a total recording charge of approximately $99.

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    Use Close It! to quickly calculate taxes and net proceeds.

    Property taxes

    Further Reading: Real Estate Tax and Escrow Reserves Explained

    Taxes are paid semi-annually, due dates vary by county. A few counties are outlined below:

    Arlington

    • First Half due 6/5
    • Second Half due 10/5
    • 703-228-3090

    City of Alexandria

    • First Half due 6/15
    • Second Half due 11/15
    • 703-838-4777

    Fairfax County

    • First Half due 7/28
    • Second Half due 12/5
    • 703-222-8234

    Prince William

    • First Half due 7/28
    • Second Half due 12/5
    • 703-792-6710

    UPDATED 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED.

Federal Title & Escrow Company

For nearly 25 years, our independently owned title company has leveraged technology to streamline the closing process, providing top-notch service at a competitive price for buyers, sellers, agents and lenders across the District of Columbia, Maryland and Virginia.

  • We are proud pioneers of creating a better closing experience for buyers, sellers, agents and lenders.
  • Our instant REAL Credit™ for ordering settlement services online has saved our neighbors upward of $18 million to date.
  • Our paperless, custom-built closing workflow software allows us to proactively keep customers in the know and avoid settlement surprises.
  • Our free mobile app Close It!™ helps homebuyers and their agents better understand the complete cost to be paid at closing.
    • Often imitated but never replicated – we set the bar other title companies aspire to reach.

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Closing Costs Explained…

Closing costs include taxes, lender fees and title fees that a homebuyer pays at settlement. Watch this video to prepare for the process.

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