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New Hampshire Conveyance Tax
In New Hampshire, the Real Estate Transfer Tax serves as the equivalent of a conveyance tax and is a fee imposed on the sale or transfer of real property. Both the buyer and seller are responsible for paying this tax, though the allocation is commonly split equally between the two parties.
Calculation and payment
- Rate: The total tax rate is 1.5% of the fair market value or contract price of the property. This rate is comprised of two halves: $7.50 per $1,000 for the buyer and $7.50 per $1,000 for the seller.
- Example: For a property selling for $300,000, the total transfer tax would be $4,500 ($300,000 x 1.5%). Each party would typically pay $2,250.
- Payment: The tax is paid to the Registry of Deeds in the county where the property is located at the time the deed is recorded. For transfers of property held by a real estate holding company, special forms are required.
Exemptions
Certain property transfers are exempt from the tax, including:
- Transfers of gifted property
- Transfers between spouses as part of a divorce settlement
- Transfers of cemetery plots
Minimum tax
For transactions with a consideration of $4,000 or less, a minimum tax is due:
For transactions with a consideration of $4,000 or less, a minimum tax is due:
- $20 from the buyer and $20 from the seller.
- Fair market value assessment In cases involving related parties where the stated consideration is not a market-based price, the tax may be assessed based on the fair market value of the property.
Disclaimer: Tax laws are subject to change. It is recommended to consult with a legal or tax professional for the most up-to-date and specific guidance regarding real estate transactions.