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Is there sales tax on land?
- 1 decade agoFavorite Answer
I'm not sure about every state, but there usually is not "sales tax" because they charge property tax (annually) instead. There may be a transfer tax and/or capitol gains tax to the seller, but the buyer should not have to pay anything at the time of the sale
- 1 decade ago
There is no sales tax, but most states do impose a transfer tax. In my state it is 3% of the purchase price, usually split between the buyer and seller. There are some exceptions. eg. transfer between parent and child, spouses, certain corporations, etc.
Also, many states offer discounts or exemptions for first time homebuyers.
Visit the website for your local Recorder of Deeds or county property website and you should be able to find out what the percentage is in your state.
- dymondLv 61 decade ago
Yes-there are also property taxes.Property taxes must be paid every year.Sales taxes are a one time thing.
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- 1 decade ago
your question is a VAGUE.
yes, there is a capital gains tax for ALL real estate when selling it.
there are property taxes that you must pay annually/bi-annually.
what exactly are you asking?
- Anonymous1 decade ago
there is always taxes on everything, just keep that in mind.