State and county real estate transfer tax
For an ordinary taxable sale, Michigan's state real estate transfer tax is $3.75 for each $500 of the property's value at the time of sale, or part of $500. County tax is generally another $0.55 for each $500, or part. At the $0.55 county rate, a $100,000 sale value has $750 in state tax and $110 in county tax, $860 total. State and county exemptions are separate, so the property's county, sale value, and any exemption need to be checked for the actual sale. Michigan law generally makes the seller responsible for these taxes.
See the Michigan state transfer-tax law (MCL 207.523 and 207.525), county transfer-tax law (Act 134 of 1966), and state exemption provisions (MCL 207.526).
When you sell to us, we pay the closing costs, including Michigan state and county real estate transfer taxes.
Your mortgage balance, liens, back taxes, and share of current property taxes remain separate amounts to include in your comparison.
