Selling your home in Oregon? You might have some questions about real estate transfer taxes in Oregon. Transfer taxes are fees that the state, county, or city imposes when property ownership is transferred from one party to another. These taxes can vary widely depending on where you’re located and the specifics of the property sale. This guide will examine how transfer taxes work in Oregon, giving you insight into what to expect in the Beaver State.
Real estate transfer taxes are assessed by state or local governments when a property changes hands. According to the Federal Trade Commission, these taxes are triggered once the title — or the legal rights to a property — is transferred from one person to another. The actual tax rate and the responsibility for paying this tax can vary depending on the property’s location, reflecting different state, county, or city regulations. Unlike many other states, Oregon does not have a real estate transfer tax on real estate transactions, which can alleviate some of the financial burden on sellers or buyers. According to the Tax Foundation, property taxes in Oregon are average, ranking 25th in the nation.What are transfer taxes?
Who pays for transfer taxes?
