Iowa’s real estate transfer tax is 80 cents for each $500, or fraction of $500, of the price above the first $500. For example, on a $100,000 sale, $99,500 is subject to the calculation: 199 units of $500, or $159.20. The person conveying the property — normally the seller — is liable under the statute. The county Recorder receives the tax and will not record the deed until it is paid. A declaration of value is filed when required, and exemptions apply to some transfers.
Before closing, ask the closing professional to confirm whether an exemption applies, the taxable amount, any required filing, and how the written sale terms address payment. When you sell to us, we pay the closing costs, including Iowa real estate transfer tax. That does not pay your mortgage, liens, back taxes, or share of current property taxes.