The transfer tax charges $731 for the note; the intangible tax is $417.60 for the mortgage.
The sale price is a commission to the buyer and a credit to the seller (the seller receives the sale price minus the closing or commission, and the buyer subtracts the deposit and loan adjustments from the sale price. Pay.)
State of Intangible Assets Mortgage tax is paid only on all new mortgages. This is calculated at a rate of 2 mils ($ 0.002) for the total amount of the new mortgage. No intangible tax will be paid if a mortgage is set up or if ownership of the property is considered "subject" to the mortgage.
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