Selling your home in San Diego? You’ll want to understand transfer taxes—fees paid when property ownership changes hands. These taxes are based on your home’s sale price and can add up quickly. In this short guide, we’ll explain how transfer taxes work in San Diego and what you can expect to pay. We’ll cover who pays these taxes, the types you might encounter, and specific costs at the state, county, and city levels. Plus, we’ll touch on other related fees, potential deductions, exemptions, and how to estimate your total transfer tax bill. Real estate transfer taxes, as defined by the Federal Trade Commission, are taxes paid when property ownership changes hands. When you sell your home and transfer the title to the new owner, the government charges a fee. The amount you owe depends on your property’s location, and there are different rules at the state, county, and city levels. These taxes help generate revenue for local and state governments. Different states, cities, or municipalities differ on who is responsible for paying transfer taxes. In San Diego, the total amount levied is split between the buyer and the seller. It’s important to keep this in mind and have a good idea of what you will owe before the sale is finalized. In San Diego, the seller is also responsible for a title fee. In other parts of California, these fees can fall solely to the seller.What are transfer taxes?
Who pays for transfer taxes?
