Home Buying in 95377>Question Details

Fritts, Home Buyer in 95377

is there sales tax on home sales--and who is responsible--buyer or seller ---on California homes?

Asked by Fritts, 95377 Sun Dec 25, 2011

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There is no Sales Tax. There is a transfer tax and it's a percentage of the final sale price. Based on the county customs, it's paid by one or both parties. In SF the seller usually pays this tax however, as with all contracts, everything is negotiable.

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference: http://www.oggikashi.com
0 votes Thank Flag Link Thu Aug 23, 2012
There is a transfer tax on most properties, which is paid according to customary local practices. Sometimes the buyer pays, sometimes the seller, and sometimes it's split. I would contact a local realtor or title company to get the correct answer for your area.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Thu Aug 23, 2012
No one is responsible either the buyer or seller as there's no sales tax on homes. And if you still have queries then just consult your local realtor, probably you find out detail about it.
Web Reference: http://www.gtoptions.com/
0 votes Thank Flag Link Wed Aug 22, 2012
There is County Transfer Tax fees but on Residential properties there is no sales tax due. Mobile homes and some modular homes may have a sales tax imposed. Check with a local Realtor and they can assist you with this.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-586-0364
0 votes Thank Flag Link Mon Dec 26, 2011
Fritts:

Mobilehome and factory-built housing can be subject to Sales/Use Tax. This tax can be paid by the Seller or the Buyer depending on certain disclosure criteria. See page 28 of this document http://www.boe.ca.gov/pdf/pub47.pdf regarding this subject and Page 10 for Sales and Use Tax Exemptions.

Real property does not have Sales Tax; however, as others have stated, there are Country Transfer Taxes ($1.10 per 1,000 of the transfer value) and in some cases City Transfer Taxes (which varies by City). See http://docs.Steven-Anthony.com/ClosingCostsGuide.pdf to look up the CUSTOMARY (read subject to negotiation) splits between Buyer/Seller regarding Escrow, Title, County and City fees.

-Steve
0 votes Thank Flag Link Sun Dec 25, 2011
Hello Fritts,
There is no sales tax on the purchase of a home. However in San Joaquin County there is County Transfer tax which is calculated on $1.10 per thousand of purchase price. Some cities in California have an additional City Transfer Tax but in 95377 which is Tracy there is no City Transfer Tax just the County Transfer tax. In San Joaquin the County Transfer Tax is customarily paid by the seller. If you need any further help please do not hesitate to contact me. I have lived in Tracy for over 26 years. Thank you and have a great day!

John Keating, PMZ Realtor
209-603-9326
jkeating@pmz.com
Web Reference: http://www.jkeating.pmz.com
0 votes Thank Flag Link Sun Dec 25, 2011
Fritts,

As pointed out below the only tax is transfer tax. However, who pays it depends on where and what type of property. For example, in San Francisco the seller pays, in Alameda county (next county to the east) it is much higher but the buyer and seller split it. FYI - this is also true on title and escrow fees - varies from county to county based on customary practice.

And on most new construction projects - at least in the bay area - the buyer pays the transfer tax. If you want accurate information for your area you can talk with a local broker or title officer.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Sun Dec 25, 2011
There is no sales tax on real property. There is an additional tax upon transfer of title called the Transfer Tax. It's based on a percentage of the sale price and it's usually paid by the seller. It can be a negotiable item where the buyer and seller can decide who pays for this item in the contract.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to error and omission, and not warranted.
0 votes Thank Flag Link Sun Dec 25, 2011
There is a TRANSFER TAX, that is charged when the Title Changes.
There is PROPERTY TAX, which each County charges annually, on a pre-paid basis.
And there are INCOME TAXES, in certain circumstances.

For any more information, please contact a Tax Professional.

Happy New Year
0 votes Thank Flag Link Sun Dec 25, 2011
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