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Michigan Real Estate Transfer Tax

michiganweedsmoreWeeds remind me of taxes. They pop up in places you least expect them. You can not do much about them. They keep coming back, no matter what you do to prevent them.

The Michigan Real Estate Transfer Tax (SRETT) is an example of such a tax. The seller pays to the State of Michigan a transfer tax of the property at the time the deed is granted. The tax is at the rate of $7.50 per thousand of sale price. For example, if the selling price of a property is $41,500.00, the tax due to the State of Michigan.

Each Michigan county also charges a County Real Estate Transfer Tax (CRETT) at the time of transfer of deed. The rate varies by county, but the average is $1.10 per thousand dollars of sale price. So, in our example the seller would also pay a tax of $45.65

Honestly, weeds are something we donít care to see, but unlike taxes, they can sometimes be interesting to look at.

Written by Dave.