Transfer Tax on Real Estate

bigdog · 11-24-2009, 10:27 PM

Need some clarity from the Forum about the Real Estate 'Transfer Tax' paid in N.H. at time of R.E. purchase/Closing.....

I understand that there is a Real Estate 'Transfer' tax in Gilford,
or paid to County. Gilford Tax Collector told me that was $15. per thousand of purchase price. Is this paid to Gilfor or the Belknap County?

Well..... My mortgage banker (this is a major US bank), indicated to me that
this is a 'State' Transfer tax paid, and it was based on a percetage of purchase price. Now I'm really confused?

Me thinks, Someone is giving me bad information ?

My question:
Are there two 'Transfer Taxes' which must be paid ?
One to State of NH, the other to County ? This could correlate to big bucks !

Appreciate your feedback !

Bigdog

11-24-2009, 10:27 PM	#1
bigdog Senior Member Join Date: Apr 2006 Location: Central MA-Gilford Posts: 1,446 Thanks: 341 Thanked 119 Times in 96 Posts	Transfer Tax on Real Estate Need some clarity from the Forum about the Real Estate 'Transfer Tax' paid in N.H. at time of R.E. purchase/Closing..... I understand that there is a Real Estate 'Transfer' tax in Gilford, or paid to County. Gilford Tax Collector told me that was $15. per thousand of purchase price. Is this paid to Gilfor or the Belknap County? Well..... My mortgage banker (this is a major US bank), indicated to me that this is a 'State' Transfer tax paid, and it was based on a percetage of purchase price. Now I'm really confused? Me thinks, Someone is giving me bad information ? My question: Are there two 'Transfer Taxes' which must be paid ? One to State of NH, the other to County ? This could correlate to big bucks ! Appreciate your feedback ! Bigdog