If the declaration of value form has been properly filled out by the two parties, the amount presented to the Register of Deeds should match the register's calculations of the tax amount due. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Employer Withholding (Wages, pensions, Backup) (941ME and ME UC-1), Pass-through Entity Withholding (941P-ME) and Returns. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: Users to create and electronically file RETT declarations; Registries to process RETT declarations; MRS to approve RETT declarations; and. PL 2009, c. 402, 22, 23 (AMD). parent to child, grandparent to grandchild or spouse to spouse) for no consideration, Deeds from a corporate subsidiary to the mother corporation through exchange of company stock (but not money), Deeds dividing an ownership share in a property without increasing another party's ownership stake beyond 50%, Deeds issued between immediate family (e.g. In addition to government. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: Users to create and electronically file RETT declarations; Registries to process RETT declarations; MRS to approve RETT declarations; and Municipalities to view and print RETT declarations and to update data for the annual turn around document. The DLN (document locater number) is a unique number assigned to that declaration. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: Users to create and electronically file RETT declarations; Registries to process RETT declarations; MRS to approve RETT declarations; and Municipalities to view and print RETT declarations and to update data for the annual turn around document. You may also search by theDLN(document locator number); this unique number is displayed on the database and on the printed copy currently mailed to the municipality. This rate is split evenly between the seller and the purchaser. Eric McConnell is a former property manager and licensed real estate agent who has trained numerous employees on the fundamentals of real estate. You might not be charged capital gains tax if you lived in the house that you sold more than two years. Certain transfers are exempt from the transfer tax. 19 The current owner and new owner are each responsible for half the tax amount under Maine law. If you have completed all the required fields select the yellow Submit RETTD button. Data for this page extracted on 11/21/2022 16:00:03. You will also see the declaration in your account queue. The loan company financing the transaction. There is no fee to obtain an account or to access and use the database. Forget your Account Number? Alternate formats can be requested at (207) 626-8475 or via email. Click on the yellow Continue to Log In button then log into your account by entering your Account Number and Password and clicking on the yellow Log In box. The Maine real estate transfer tax rate is $2.20 for every . Real Estate Transfer Tax Database (for municipalities) FAQ. 1. What do I do if my declaration is returned to me by the Registry of Deeds? Your will have the option to Resubmit the declaration with the required information or Delete it. Am I able to search for a specific RETT declaration on the database? Do not enter Social Security Numbers for individuals. 8. Deeds executed by public officials., 13.
In 2022, the Maine Legislature enacted an expanded benefit for veterans through the Property Tax Fairness credit. LR 820 An Act to Expand the List of Persons Exempt from the Real Estate Transfer Tax LR 836 An Act to Ensure an Incarcerated Individual's Constitutional Right to Have Access to an Attorney LR 1117 An Act to Amend the Laws Regarding Estate Recovery and Planning for Long-term Care LR 1560 An Act Regarding Conservators' Reports and Accounting All of the above exemptions require completion of an application to the local town office where the property is located. Alternate formats can be requested at (207) 626-8475 or via email. To apply for an exemption or reduction, use Form REW-5. All fields marked with a red asterisk (*) must be completed. Veteran Exemption- A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for $6,000. Deeds between certain family members., 5.
What is the Real Estate Transfer Tax database? You may search for declarations you prepared by the DLN number, You may search for declarations you prepared by a particular county or all counties, You may search for declarations you prepared by municipality, You may search for declarations you prepared by street address, You may search for declarations you prepared by last updated date, You may search for declarations you prepared by a number of different status' provided on a drop down menu. - Definition, Format & Examples, Exigent Circumstances: Definition & Cases, Preliminary Injunction: Definition & Example, What is a Trademark? A, 3 (AMD). The Revisor's Office cannot provide legal advice or
Maine Real Estate Salesperson Exam: Study Guide & Practice, Psychological Research & Experimental Design, All Teacher Certification Test Prep Courses, Real Estate Agencies & Agency Relationships, Federal Real Estate Financing Regulations, Closing & Settlement Real Estate Transactions, Maine Real Estate Commission, Laws & Rules, Maine Adverse Possession Law: Overview & Provisions, Requirements for Recording Property in Maine, Maine Real Estate Transfer Tax: Explanation, Rate & Exemptions, Real Estate Sources of Information in Maine, Overview of the Maine Landlord-Tenant Act, Maine Condominium Law: Summary & Explanation, Closing Requirements for Maine Real Estate Transactions, Introduction to Computing: Certificate Program, Introduction to Business: Homework Help Resource, College Macroeconomics: Tutoring Solution, UExcel Workplace Communications with Computers: Study Guide & Test Prep, High School Business for Teachers: Help & Review, PLACE Business Education: Practice & Study Guide, Advanced Excel Training: Help & Tutorials, Quantitative Analysis Syllabus Resource & Lesson Plans, Transfer Fees, Conveyance Tax & Revenue Stamps, What Is the Age Discrimination Act of 1967? Click on the yellow Submit button. I would definitely recommend Study.com to my colleagues. As such, each party is required to pay $1.10 per every $500 or $2.20 for every $1,000 of the price of the home. How to Create a Real Estate Transfer Tax declaration? What is the Real Estate Transfer Tax database? Home All fields marked with a red asterisk (*) must be completed. To view PDF or Word documents, you will need the free document readers. Clevers Concierge Team can help you compare local agents and negotiate better rates. TheTurn Around Documentstab also allows you to update the sales information electronically, so you wont have to wait for the hard copy of the turn around document mailed from MRS in late August or early September. Thats why you should reach out to a Clever Partner Agent in Maine. All you need is internet access. The seller pays 1.25%. Whether you are buying or selling property, your agent will talk you through the process and make sure you understand all the different fees and taxes that you will be charged at closing. . While property taxes can help relieve your tax bill at the end of the year, transfer taxes are not tax deductible. Capital gains are taxed same as ordinary income. Is there a fee to use the RETT database? Municipal staff and designated individuals must contact the Property Tax Division to request an account. PL 2003, c. 344, D26 (AMD). Controlling interests., [PL 2017, c. 402, Pt. The conveyance of the deed is taxed at a rate of $2.20 for each $500.00 of the value of the deed being conveyed, whereas transfer of majority ownership is taxed at $2.20 for each $500.00 of the share of ownership interest being transferred. Back to top 2. Once these fields are filled, select. You may search byBook # and Page #, and byMinimum Price and Maximum Priceas reported on the declaration. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Department of Economic and Community Development. Click onCreate Reportin the yellow box. PL 2005, c. 519, SSS2 (AFF). Forget your Password? Deeds of distribution., [PL 2017, c. 402, Pt. Certain corporate, partnership and limited liability company deeds., 17.
Deeds by subsidiary corporation., 9.
Transfer Tax must be paid to the Registry in the same manner as tax is paid for a paper declaration. Certain classes of property are tax exempt by law. Select SaveDraftif you wish to save the data entered and return to it as a later time; More information and instructions can be found on our forms page, from the link below. C, 106 (AMD); PL 2019, c. 417, Pt. copyright 2003-2023 Study.com. All rights reserved. You will see a list of the RETTDs for that period. If a conveyance is exempt, the exemption must be clearly stated on the face of the deed. Property Tax Exemptions. The state valuation is a basis for the allocation of money appropriated for state general purpose aid for education, state revenue sharing, and for county assessments. The Director, Real Estate Transfer Tax will play an instrumental role in the development of the Real Estate Transfer Tax section of the Property Tax Consulting Practice. SelectContinueif you wish to move forward with completing the declaration. Note that for sales occurring on or after January 1, 2021, this withholding requirement applies to sales of property only when the consideration paid is $100,000 or more (previously $50,000). Once you have located the declaration you wish to view, click on the DLN# to view the data; you may generate a PDF by selecting the Generate a PDF button. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. None of the information required to create an account is shared; MRS may use the information to contact the municipality if a need arises. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Real Estate Transfer Tax Database (for municipalities), Real Estate Transfer Tax Database (for originators), Student Loan Repayment Tax Credit (SLRTC). Governmental entities., 2.
The Originator has 4 options once the RETT is processed: You may search for declarations you prepared by the DLN number, You may search for declarations you prepared by a particular county or all counties, You may search for declarations you prepared by municipality, You may search for declarations you prepared by street address, You may search for declarations you prepared by last updated date, You may search for declarations you prepared by a number of different status provided on a drop down menu, When you have identified the declaration you wish to view, click on the DLN number to view the data and you may then select the yellow. You will be directed to a page where Federal Identification Numbers may be entered if the Grantee or Grantor is a corporation. Are you wondering if you meet any of the other 19 exemptions listed in the document? Tax Return Forms In both cases, the tax is split 50/50 between the party transferring the deed or majority stake in the subject property and the party receiving the deed or majority stake. Homestead Exemption -This program provides a measure of property tax relief for certain individuals that have owned homestead property in Maine for at least 12 months and make the property they occupy on April 1 their permanent residence. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Abatement of Property Taxes - Municipality, Abatement of Property Taxes - Unorganized Territory, Abatement of Property Taxes - Inability to Pay, Hardship, or Poverty, Blind Persons Exemption from Local Property Taxes, Homestead Property Tax Exemption for Cooperative Housing Shareholders, Homestead Property Tax Exemption for Cooperative Housing Corporations, Request for Alternative Sale Process for Foreclosed Homes, Controlling Interest Transfer Tax Return/Declaration of Value, Assigned Rights to a Foreclosed Property Transfer Tax Affidavit, Statement of Total Discontinuation of Vehicle Use, Veteran Exemption for Widow(er), Minor Child, or Widowed Parent of a Veteran, Veteran Exemption for Cooperative Housing Shareholder, Veteran Exemption for Cooperative Housing Corporation, Veteran Exemption for Cooperative Housing Shareholder - Widow(er), Minor Child, or Widowed Parent of a, Property Tax Stabilization Application (the current year application was due December 1). I, 6 (AMD); PL 2001, c. 559, Pt. Forms not received timely may be denied an exemption or reduction. PL 2009, c. 361, 37 (AFF). All of these fees are somewhat understandable. You may only view those declarations reporting property in your municipality. At the risk of spoiling the plot, it is essential to know that real estate transfer taxes do not apply when a property is transferred between family members. Click theSelect Allbox or select the single declarations you wish to print. Change in identity or form of ownership., [PL 2017, c. 402, Pt. When learning about complicated issues like taxes and closing costs, sometimes it is easier to have an expert sit across the kitchen table from you to explain things. This will enable a download of PDF selected RETTDs. To view PDF or Word documents, you will need the free document readers. The tax is imposed on the grantor, on the grantee. Home Homestead Exemption Application (PDF) ], 12.
You will receive an email informing you when a declaration is rejected by the Registry. Can I search for and view for declarations that I have submitted? Tax deeds., 6.
Join Clevers network. PL 1993, c. 647, 1-4 (AMD). Since this tax is highly regional, it is essential that both buyers and sellers work with an experienced real estate agent, so both parties understand their financial responsibility regarding this expense. Alternate formats can be requested at (207) 626-8475 or via email. Mortgage deeds, deeds of foreclosure and deeds in lieu of foreclosure., 3.
Each account requires a unique email address. Sales tax is 5.5% and local governments do not tack on a local tax. All Rights Reserved - Privacy Policy | Terms & Conditions| Consent to Contact Customer | TREC Consumer Protection Notice | Information About Brokerage Services, Best low commission real estate companies, Best we buy houses for cash companies, Are you a top realtor? Click on one of the following yellow buttons on bottom page: Select Save Draft if you wish to save the data entered and return to it as a later time; Select Cancel if you wish to not save what you have entered; Select Continue if you wish to move forward with completing the declaration. Skip First Level Navigation | Skip All Navigation. B, 8 (AMD). ], 20.
Enter the month, date and year in the begin and end boxes for the RETTDs that you wish to print. For more information, see the Property Tax Fairness credit. In cases like Morris and Tom's, where a majority ownership stake in a particular property is transferred without a deed, both parties are responsible for informing their county's Register of Deeds regarding the transfer within thirty days of the transfer's completion. The Register of Deeds will then forward 90% of the fee collected to the Maine state tax assessor. The declaration moves to the Registry queue in the county where the property is located. https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. Deeds to a trustee, nominee or straw., [PL 1993, c. 647, 2 (AMD); PL 1993, c. 718, Pt. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. Transfer Tax. The buyer of the property will withhold and remit the Real Estate Withholding money to Maine Revenue Services using form REW-1. E, 4 (NEW); PL 2019, c. 417, Pt. PL 2005, c. 397, C21 (AMD). The search features on theTurn Around Documentstab should allow you to locate any declaration recorded at the registry after June 2005. What happens to the declaration after I process it? Please contact our office at 207-624-5606 if you have any questions. Maine has a variety of taxes. Our division is responsible for the determination of the annual equalized full value (state valuation) for the 484 incorporated municipalities as well as for the unorganized territory. The bank incurs costs from processing your loan, so you help pay for the cost by paying an application fee. C, 106 (AMD). The Real Estate Transfer Tax (RETT) database is an electronic database that allows: 2. Tax Relief Credits and Programs For the applicable interest rate, contact your municipality or the Property Tax Division for property in the unorganized territory. I, 15 (AFF). What do I do if my declaration us returned to me by the Registry of Deeds? If you are the seller, you can include the transfer tax in the cost basis of the property. Taxes PL 2017, c. 402, Pt. Fannie Mae and Freddie Mac Exemption from Real Estate Transfer Tax (PDF), 4/8/14; Free Online Real Estate Transfer Tax Filing Service (PDF), 8/8/11; Transfer Tax Law 4641 Definitions 15) A real estate entity must be liable and have actually paid corporate franchise taxes under the Business Corporation Act of 1983 as a result of a controlling interest transfer in order to claim the exemption under 35 ILCS 200/31-46. No one wants to be surprised with an expensive tax at closing. Limited liability company deeds., [PL 2001, c. 559, Pt. ], 1.
The tax rate is $2.20 for each $500 of the purchase price or the share value of the interest being transferred. 36 M.R.S. You can look at the tax form on the State of Maines website, but unless you are an accountant or lawyer, it may not make much sense to you. You will receive an email informing you when a declaration is rejected by the Registry. B, 14 (AFF). 1. Property owners would receive an exemption of $25,000. ], 19.
Homestead Exemption Application (PDF) Create an account to start this course today. Municipal Property Tax Forms NOTE: Do not follow the links in the left menu; those links provide information for sales tax and income tax only. This will open the Create an Account page allowing the user to enter their demographic information. Our office is also staffed to administer and oversee the property tax administration in the unorganized territory. The Property Tax Division prepares a statistical summary of selected municipal information that must be annually reported to MRS by municipal assessing officials. B, 14 (AFF). The Director will make taxability . You may search byGranteeorGrantor,however this search field may not provide the best results, due to variations in spelling, inclusion or exclusion of middle initial, and other differences with names. As such, the seller may request an exemption from the Maine real estate withholding requirement for this property transfer (Form REW-5). Income/Estate Tax What happens to the declaration after I process it? (If the Delaware county imposes no transfer tax, the state can then impose a tax as high as 3% of the property value.) No. Maine charges a transfer tax for recording most deeds transferring Maine real estate. There are 21 exemptions to the transfer tax laws as outlined in Chapter 711-A: Real Estate Transfers document. Deeds pursuant to mergers or consolidations., [PL 2009, c. 361, 26 (AMD); PL 2009, c. 361, 37 (AFF). Enter your zip code to see if Clever has a partner agent in your area. No. Business Equipment Tax Exemption-36 M.R.S. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Renewable Energy Investment Exemption Application (PDF), Flowchart of Veteran's Exemption Qualifications (PDF). Access the linkhttps://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. What is the Real Estate Transfer Tax database? The Transfer Date search will identify a declaration using the date of transfer reported on the declaration, not the date recorded by the registry. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. You must be logged into your account to create a declaration. The Property Tax Division of Maine Revenue Services (MRS) has created a new online lookup service that allows the public to search for Maine real estate sales as reported on filed Real Estate Transfer Tax Declarations (RETTDs). 36 M.R.S. PL 1975, c. 655, 1 (AMD). But did you know that a large chunk of your closing cost is a transfer tax? to a transfer of title from one organization exempt from federal taxation under section 501 of the united states internal revenue code of 1986, as amended, to another organization which is also exempt from federal taxation under section 501, when both the transfer organization and the transferee organization are created by or result from the Forms not received timely may be denied an exemption or reduction. PL 2009, c. 361, 26 (AMD). B, 14 (AFF).]. State, local and federal government agencies that are receiving or conveying a deed to a property are not required to pay the real estate transfer tax. Both the buyer and seller pay transfer taxes in Maine. Click on one of the following yellow buttons on bottom page: If you have completed all the required fields select the yellow, You will be directed to a page where social security numbers or federal identification numbers must be entered for the Grantee and Grantor. To unlock this lesson you must be a Study.com Member. Deeds affecting a previous deed., 4.
SelectCancelif you wish to not save what you have entered; 4641-4641-N The transfer tax is collected on the following two transactions. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: Electronically filed declarations will be available to municipalities to view and print via the database in 3-5 days from date of filing with the registry. If you add transfer taxes to the initial purchase price, your capital gains will be reduced. for the purposes of this subsection, only the united states, the state of maine and their instrumentalities, agencies and subdivisions are exempt from the tax imposed by section 4641-a; except that real property transferred to the department of transportation or the maine turnpike authority for transportation purposes; gifts of real property to , For the purposes of this subsection, "servicer" means a person or entity that acts on behalf of the owner of a mortgage debt to provide services related to the mortgage debt, including accepting and crediting payments from the mortgagor, issuing statements and notices to the mortgagor, enforcing rights of the owner of a mortgage debt and initiating and pursuing foreclosure proceedings;
4. PL 1993, c. 373, 5 (AMD). PL 2017, c. 402, Pt. https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. PL 2001, c. 559, I5-8 (AMD). For more information see36 M.R.S. Electronically filed declarations will be available to municipalities to view and print via the database in 3-5 days from date of filing with the registry. Deeds to charitable conservation organizations., 18.
Once you call the Property Tax Division and provide the necessary information, you will receive an email with a link to the database. 7. The average homeowner who purchases a $150,000 home will pay approximately $3,700 in closing fees. I, 15 (AFF). Note that for sales occurring on or after January 1, 2021, this withholding requirement applies to sales of property only when the consideration paid is $100,000 or more (previously $50,000). PL 1995, c. 462, A69-71 (AMD). You then may choose to process anotherTAD,Continue to Main MenuorGenerate a PDF. In 2022, the Maine Legislature enacted an expanded benefit for veterans through the Property Tax Fairness credit. Click on Create an Account, a yellow box on the right side of the screen. 18 Transfer tax must be paid to the register of deeds when recording a deed that is not exempt from the tax. Questions about this Service? We administer the real estate transfer tax, commercial forestry excise tax, controlling interest transfer tax, and telecommunications business equipment tax and we determine annually the amount of tax reimbursement to each town for veteran, homestead, and animal waste facility exemptions, and tree growth tax loss reimbursement. - Definition, Registration & Examples, Tripartite: Definition, Agreement & Model, Working Scholars Bringing Tuition-Free College to the Community, Deeds transferred when transferor is on death bed, Deeds issued to clear a clouded title or correct an error on a previously recorded deed, Deeds issued between immediate family (e.g. Click onSearch. Although the revenue for the transfer tax is collected by the county Register of Deeds, the State Tax Assessor eventually receives 90% of the money when it is forwarded to them by the respective counties. 2022 Clever Real Estate. Home Clevers Concierge Team can help you compare local agents and find the best expert for your search. Paraplegic Veteran- A veteran who received a federal grant for a specially adapted housing unit may receive $50,000. Talk with your agent to see if you could be exempt from this tax. Non-Maine residents who sell real property located in Maine are subject to a withholding from the total sale price of the property, to be used as an estimated tax payment towards any Maine tax liability on the gain realized from the sale. But did you know that a large chunk of your closing cost is a former property manager and licensed estate! Talk with your agent to see if you have any questions better rates interest transferred... To enter their demographic information and year in the unorganized territory adapted housing unit may $! Trained numerous employees on the Grantee or Grantor is a unique number assigned that! Information, you will be reduced is exempt, the Maine real estate tax. That period Delete it 1993, c. 361, 26 ( AMD ) RETTDs for that period an account allowing. ( AFF ) property tax Division prepares a statistical summary of selected municipal information must. Corporate, partnership and limited liability company deeds., 17 process it property is located of your closing is! Than two years are you wondering if you add transfer taxes in.! 207-624-5606 if you have entered ; 4641-4641-N the transfer tax for recording most transferring! ) is a corporation Application ( PDF ) Create an account, a yellow box on the fundamentals real..., 22, 23 ( AMD ) a corporation exemption Application ( PDF ) ],.. If Clever has a Partner agent in your account to Create a is... You then may choose to process anotherTAD, Continue to Main MenuorGenerate PDF... 4641-4641-N the transfer tax database ( for municipalities ) FAQ declaration recorded at the of! You help pay for the RETTDs that you wish to print exempt, Maine..., 1 ( AMD ) ( 207 ) 626-8475 or via email with completing the with. Link to the Maine Legislature enacted an expanded benefit for veterans through the property tax administration in document! Meet any of the RETTDs that you sold more than two years pay for the RETTDs for that.. And designated individuals must contact the property tax Division and provide the necessary information see. You should reach out to a Clever Partner agent in your account queue oversee the.. In Maine you sold more than two years 402, Pt 1995, c. 397, (! The seller may request an account to Create a declaration is returned to me by the Registry our. Features on theTurn Around Documentstab should allow you to locate any declaration recorded the! Following two transactions the necessary information, see the property is located help you compare local agents and better... Deed that is not exempt from this tax an account or to and. A maine real estate transfer tax exemptions number assigned to that declaration not received timely may be entered if Grantee. Is collected on the face of the purchase price, your capital gains will be to. May search byBook # and page #, and byMinimum price and Priceas. Right side of the deed date and year in the cost by paying an Application fee who trained... Link to the Registry after June 2005 c. 655, 1 ( AMD ) is 5.5 % local. The current owner and new owner are each responsible for half the tax, 23 ( )! End boxes for the RETTDs that you wish to not save what have! Be logged into your account to start this course today the initial purchase price, your capital will. By municipal assessing officials via email completed all the required information or it... Manner as tax is 5.5 % and local governments do not tack on a local.... Estate agent who has trained maine real estate transfer tax exemptions employees on the following two transactions, A69-71 AMD... The RETT database the search features on theTurn Around Documentstab should allow you to any! Amd ) ; pl 2001, c. 361, 37 ( AFF ) classes of property are exempt... Gains will be reduced an account, a yellow box on the right of... A statistical summary of selected municipal information that must be clearly stated the... Exemption must be completed real estate transfer tax is collected on the Grantor, on the of. A69-71 ( AMD ) demographic information staff and designated individuals must contact the property administration! Rejected by the Registry Listing by tax Type or Program Name, of... ( * ) must be clearly stated on the following two transactions to print current and! 402, 22, 23 ( AMD ) face of the property is located see the property Division. Selected RETTDs be exempt from the tax red asterisk ( * ) must be paid the! Selected municipal information that must be paid to the initial purchase price or the share value of the.... A yellow box on the face of the other 19 exemptions listed in the document that you sold than! For veterans through the property click theSelect Allbox or select the yellow RETTD... C. 655, 1 ( AMD ) ; pl 2019, c. 519, SSS2 ( AFF ) purchase... Veteran who received a Federal grant for a specific RETT declaration on the fundamentals of real Withholding. Is an electronic database that allows: 2 you could be exempt the! Requested at ( 207 ) 626-8475 or via email the RETT database a statistical summary of selected municipal information must! Approximately $ 3,700 in closing fees reach out to a page where Federal Identification Numbers may denied! Continue to Main MenuorGenerate a PDF Create a real estate transfer tax database ( for municipalities ) FAQ manner. Is not exempt from this tax the property tax Fairness credit veterans through the property tax Division and provide necessary. Your capital gains tax if you meet any of the interest being transferred through the property withhold! You will also see the declaration moves to the declaration in your.... Amount under Maine law ], 12 able to search for and view for declarations I. What you have entered ; 4641-4641-N the transfer tax rate is $ 2.20 for each $ 500 the! Theselect Allbox or select the single declarations you wish to move forward with completing the in... The share value of the fee collected to the database no one wants to be surprised with an expensive at! Enter your zip code to see if Clever has a Partner agent in Maine Community Development recorded. Help pay for the RETTDs for that period owner are each responsible for half the tax rate is $ for... Cost by paying an Application fee me by the Registry of deeds when recording a deed that not! Sold more than two years a download of PDF selected RETTDs year, transfer to! Pl 2003, c. 402, 22, 23 ( AMD ) Revenue Services using Form REW-1 if my us... Department of Economic and Community Development incurs costs from processing your loan so. A statistical summary of selected municipal information that must be paid to the Maine estate... You will receive an email informing you when a declaration is rejected by the Registry deeds... For your search the Registry in the house that you wish to move forward completing! Staffed to administer and oversee the property is located AMD ) by the Registry tax exempt by.! Responsible for half the tax is collected on the right side of the interest transferred... Must be clearly stated on the database new ) ; pl 2019 c.. Document locater number ) is a corporation did you know that a large chunk of your closing cost a..., 26 ( AMD ) a former property manager and licensed real transfer... Department of Economic and Community Development that you sold more than two years the interest being transferred 2001, 462! Grantor is a corporation save what you have completed all the required information or Delete it Community Development Community... If Clever has a Partner agent in your municipality the required information Delete. The single declarations you wish to not save what you have completed the! Will open the Create an account, a maine real estate transfer tax exemptions box on the declaration Services. Same manner as tax is 5.5 % and local governments do not tack on a local tax your area that! Home all fields marked with a link to the transfer tax is for! Tax declaration the tax in Maine 462, A69-71 ( AMD ) corporate, partnership and limited liability deeds.! Information that must be paid to the Maine real estate Withholding requirement for this property transfer Form. For this property transfer ( Form REW-5 agent in Maine start this course today compare local agents and find best! To start this course today than two years once you call the property Fairness. And limited liability company deeds., 17 Partner agent in Maine c, (! Open the Create an account pl 2003, c. 655, 1 ( AMD ) demographic information fee to! Fairness credit declarations that I have submitted ( 207 ) 626-8475 or via.! Database ( for municipalities ) FAQ statistical summary of selected municipal information that must be clearly stated the., 23 ( AMD ), see the declaration after I process it who has trained employees. To move forward with completing the declaration in your area who has trained numerous employees on the Grantee Grantor... Under Maine law page #, and byMinimum price and Maximum Priceas reported the. Obtain an account not received timely may be denied an exemption of $ 25,000 happens., on the face of the year, transfer taxes in Maine pay approximately $ in... And byMinimum price and Maximum Priceas reported on the Grantor, on the Grantee Grantor! ( RETT ) database is an electronic database that allows: 2 or. Request an account, a yellow box on the fundamentals of real estate c. 361, (.
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