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Jan 17

Property Transfer Tax up over 50% through December 2014

Posted on January 17, 2015 at 10:23 pm by Clay Curtin

For the first six months of fiscal year 2014-15, property transfer tax revenue is well above levels received for the same time last fiscal year. Through December 2014, 267 transactions were processed generating over $366,000. Through the same period last year, 235 transactions had been processed for a total of $237,000. The property transfer tax is a tax imposed on the documents exchanged in the transfer of interests in real estate. The results through the first six months of the fiscal year are reflective of the continued strong activity in the local real estate market, both in the residential and commercial sectors.