What is sales tax rate on house?

Asked by Bernardo kinsky, Saint Ansgar, IA Sun Oct 6, 2013

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Spence Ralst…, Agent, Santa Fe, NM
Mon Oct 7, 2013
The Gross Receipts Tax (GRT) - which is basically indistinguishable from a "sales tax" from the consumer's perspective - is currently 8.1875% and is most often paid by the seller at closing. The capital gains from the sale of real estate are not subject to the GRT.

Spencer Ralston
Barker Realty
1 vote
Coleen Deari…, Agent, Santa Fe, NM
Sun Oct 6, 2013
There is no "sales tax". However there is GRT on commissions paid and on title company closing fees (not the insurance - just the labor). It is a little of 8%.

Hope this helps.

Coleen Dearing
Coldwell Banker Trails West Realty, Ltd
ofc 505.988.7285 or cell 505.930.9102
1 vote
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