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Transfer Tax

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.

The charge levied by the government on the sale of shares of stock. A charge imposed by the federal and state governments upon the passing of title to real property or a valuable interest in such property, or on the transfer of a decedent's estate by inheritance, devise, or bequest.

The states also impose transfer tax on deeds used to convey real property.



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Specifically, we are pleased, that a majority of legislators saw fit not to include a proposal which would have expanded the real estate transfer tax to include refinancing activity.
By our reckoning, a transfer tax on sales of all property is a better way to fund affordable housing -- and such a tax needs to come from throughout Santa Fe county, not just within city limits.
One important factor behind the precipitous decline in transfer tax revenues has been the abrupt drop in sales of very large commercial properties, which had been responsible for a significant share of tax revenue in recent years.
 
 
 
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