In addition to the state tax, each individual county levies an additional transfer tax of $0.55 per $500. Estimate Your Property Transfer Taxes Estimate the property transfer tax you owe on the fair market value on your property. In accordance with the Michigan Constitution as amended by Proposal A of 1994, a transfer of ownership will cause the taxable value of the transferred property to uncap in the calendar year following the year of the transfer of ownership. Sale price x .0011 = Total County Transfer Tax Amount Michigan Real Estate Transfer Tax Calculator; Get a Customized Deed Now for Only $29.99. Sale price x .0075 = Total State Transfer Tax Amount. MICHIGAN PROPERTY TRANSFER TAX TABLE From To State County Total From To State County Total 300,000.01 300,500.00 2253.75 330.55 2584.30 350,000.01 350,500.00 2628.75 385.55 3014.30 Simply enter the property sale (or list) price in the designated box. State Exemptions. The property assessment system is the basis for the collection of property taxes in Michigan. Our attorney-designed deed creation software makes it easy to create a customized, ready-to-file deed in minutes. State Equalization Online Filing. Follow this link for information regarding the collection of SET. The price paid to purchase property is subject to State and County transfer tax unless exemptions apply. Transfer tax is a transaction fee imposed on the transfer of land or real property from one person (or entity) to another. The State of Michigan allows exemptions from paying state transfer tax in certain situations. Listed below are several links which may be beneficial if you are transferring ownership of a property. The State Education Tax Act (SET) requires that property be assessed at 6 mills as part of summer property tax. Why is a transfer of ownership significant with regard to property taxes? The transfer tax is typically paid by the seller. Transfer Tax Schedule State of Michigan Transfer Tax. Berrien County Courthouse 811 Port Street, St. Joseph, MI 49085 Berrien County Administration Center 701 Main Street, St. Joseph, MI 49085 General Telephone: 269-983-7111 Niles, Buchanan, Galien: 269-684-5274 Three Oaks, New Buffalo, Lakeside, Transfer Tax Calculator - Chicago Real Estate Lawyer Enter the fair market value of your property The state transfer tax rate in Michigan is $3.75 for every $500 of property value, or 0.75% of the transferred property's value. In accordance with the Michigan Constitution as amended by Michigan statutes, a transfer of ownership causes the taxable value of the transferred property to be uncapped in the calendar year following the year of the transfer of ownership. How Much Are Transfer Taxes in Michigan? Free Consultation - Call (312) 346-5297 - Law Office of James Kottaras is dedicated to helping individuals and businesses with real estate issues including Real Estate and Property Law cases. 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