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\n <\/div>\n \n Connect with a Top Agent to Help Maximize Value<\/h3>\n
Even rockstar agents can’t make your tax liability disappear, but HomeLight data shows that the top 5% of agents across the U.S. help clients sell their home for as much as 10% more than the average real estate agent, helping offset the tax bill.<\/p>\n \n
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Philadelphia area tax services or attorneys should not be considered endorsements.<\/i><\/p>\n Real estate transfer taxes are levied by state or local governments when the ownership of a property is transferred from one individual to another. According to the Federal Trade Commission<\/a>, this tax is applicable whenever the title of a property\u2014essentially the official rights to ownership\u2014changes hands.<\/p>\n The specific amount owed in transfer taxes can vary greatly depending on the location of the property, as each state, county, and city may have its own regulations and rates for these taxes.<\/p>\n These taxes can be invaluable in local and state economies, as they help generate revenue<\/a> that funds various public services, though the exact impact they will have on your bottom line depend greatly on your location, the amount the property sells for, and other factors.<\/p>\nWhat are transfer taxes?<\/h2>\n