There is no fee to obtain an account or to access and use the database. MEETRS File Upload Specifications & Instructions, Alphabetical Listing by Tax Type or Program Name, Fannie Mae and Freddie Mac Exemption from Real Estate Transfer Tax (PDF), Free Online Real Estate Transfer Tax Filing Service (PDF), 4641-E Powers and duties of State Tax Assessor, Real Estate Transfer Tax Database FAQs (for municipalities). Revised: 4/8/2022 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. All you need is internet access and an email address. There is no fee to obtain an account or to access and use the database. Limited liability company deeds., [PL 2001, c. 559, Pt. Back to top 2. You may be charged a capital gains tax on the amount of money that you made. No. More information and instructions can be found on our forms page, from the link below. This will enable a download of PDF selected RETTDs. Property Tax This form must be submitted at least 5 business days prior to the closing. The real estate transfer tax can also be called the deed tax, mortgage registry tax, or stamp tax. 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 Generate a PDF button to view the data in return form. 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 Real Estate Transfer Tax (RETT) database is an electronic database that allows: No. For conveyances of real property located outside New York City, file Form TP-584, Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax, with the county clerk where the property transferred is located.The form and payment of all applicable taxes are due no later than the 15th day after the . PL 2017, c. 402, Pt. The declaration of value form is a summary of the transaction which includes the signature of both parties to the transaction, their tax ID numbers, the assessor's parcel number of the subject property and the price of the property. To view PDF or Word documents, you will need the free document readers. 8. A unique email address is required for each account. Am I able to search for a specific RETT declaration on the database? The declaration moves to the Registry queue in the county where the property is located. In Maine, spouses, parents, children, grandparents, and grandchildren can transfer ownership to and from each other without having to pay a transfer tax. PL 1977, c. 394 (AMD). PL 2009, c. 361, 37 (AFF). Homestead Exemption Application (PDF) PL 1975, c. 655, 1 (AMD). 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. Delaware's transfer tax at the time of this writing is 2.5% of the property's sale price plus a county transfer tax of up to 1.5% - a total of 4%. Forget your Password? Can I search for and view for declarations that I have submitted? To view PDF, Word or Excel documents, you will need the free document readers. How to Create a Real Estate Transfer Tax declaration? Sales and Use Tax Sales, Use, and Withholding Tax Payment Options Information Blind Exemption- An individual who is determined to be legally blind receives $4,000. Municipal staff and designated individuals must contact the Property Tax Division to request an account. PL 2017, c. 402, Pt. As required by the Constitution of Maine, article IV, part third, 23, the Legislature must reimburse each municipality at least 50% of the property tax revenue loss suffered by that municipality during the previous calendar year as a result of statutory property tax exemptions or credits enacted after April 1, 1978. 2022 Clever Real Estate. Users to create and electronically file RETT declarations; Municipalities to view and print RETT declarations and to update data for the annual turn around document. Are you wondering if you meet any of the other 19 exemptions listed in the document? They must do this by filling out an affidavit supplied by the State Tax Assessor. In addition to government transfers, the following deed conveyances and ownership stake transfers are exempt from the Maine real estate transfer tax: Contrary to popular belief, a deed is not officially transferred between two parties when the transaction closes. 54 The purchaser must transmit the withheld amount to the State Tax Assessor within 30 days. Capital gains are taxed same as ordinary income. Is there a fee to use the RETT database? 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. Taxpayers must apply for the credit by April 1 of the first year the exemption is requested. The Revisor's Office cannot provide legal advice or How to Create a Real Estate Transfer Tax declaration? 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. 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. 2. 4641-4641-N The transfer tax is collected on the following two transactions. 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. The amount to be withheld is equal to 2.5% of the sale price. One thing to remember, our agents often sell for a flat fee. Certain transfers are exempt from the transfer tax. PL 2001, c. 559, I5-8 (AMD). How do I print copies of RETTDs for a particular period? Both the buyer and seller pay transfer taxes in Maine. https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. I, 6 (AMD); PL 2001, c. 559, Pt. 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. 4. Tax Relief Credits and Programs Real Estate Withholding (REW). The register of deeds will compute the tax based on the value of the property as set forth in the declaration of value. Property Tax Forms. There are 21 exemptions to the transfer tax laws as outlined in Chapter 711-A: Real Estate Transfers document. There is no fee to obtain an account or to access and use the database. Eric McConnell is a former property manager and licensed real estate agent who has trained numerous employees on the fundamentals of real estate. Home A copy of the Section 1031 like-kind exchange contract must accompany the request for exemption form. Skip First Level Navigation | Skip All Navigation. Alternate formats can be requested at (207) 626-8475 or via email. The transfer tax is collected on the following two transactions. The Registry of Deeds, Maine Revenue Services and the municipality may access the declaration by entering that DLN into their database. The Registrar will review the declaration when the deed is received for recording. What do I do if my declaration is returned to me by the Registry of Deeds? Alternate formats can be requested at (207) 626-8475 or via email. To view PDF or Word documents, you will need the free document readers. Create an account to start this course today. The search features on theTurn Around Documentstab should allow you to locate any declaration recorded at the registry after June 2005. 6. Home Can I search for and view for declarations that I have submitted? For more information, see the Property Tax Fairness credit. While this benefit is based on the property tax paid by veterans, the benefit is administered through the individual income tax. The Property Tax Division is divided into two units: Municipal Servicesand theUnorganized Territory. Tom asks why and his lawyer explains that the Maine State Tax Assessor charges a real estate transfer tax whenever a deed to a property, or a majority ownership stake in a property, is conveyed from one party to another in exchange for monetary consideration. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. Forms not received timely may be denied an exemption or reduction. 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 The Director will make taxability . Data for this page extracted on 11/21/2022 16:00:03. Deeds to charitable conservation organizations., 18. Exemptions 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. How do I print copies of RETTDs for a particular period? This lesson will examine Maine's real estate transfer tax. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: Users to create and electronically file RETT declarations; Municipalities to view and print RETT declarations and to update data for the annual turn around document. Access the linkhttps://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. The Property Tax Division of Maine Revenue Service (MRS) has an online lookup service that allows the public to search for Maine real estate sales as reported on filed Real Estate Transfer Tax Declarations (RETTDs). You will be provided a password when your account is created; we recommend that you change this password so that only you (and your staff) will know the password. B, 14 (AFF). Deeds executed by public officials., 13. PL 1999, c. 638, 44-47 (AMD). FAQ No. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: 2. This tax, which can be collected by the city, county, or state (or all three), is usually based on a percentage of the sale price of your home. Income/Estate Tax Taxes You might not be charged capital gains tax if you lived in the house that you sold more than two years. More information and instructions can be found on our forms page, from the link below. All of the above exemptions require completion of an application to the local town office where the property is located. You may also file the annual turn around document using the database. ], 19. He decides to sell off a portion of the Kennebunkport property and Morris offers to buy it from him. E, 4 (NEW); PL 2019, c. 417, Pt. 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). Deeds given pursuant to the United States Bankruptcy Code., 15. The tax is imposed on the grantor, on the grantee. 651 - 684. Under the blackPrint Batch Reportclick onView printable report. This will open the Create an Account page allowing the user to enter their demographic information. PL 2017, c. 288, Pt. PL 2019, c. 417, Pt. 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. Municipalities to view and print RETT declarations and to update data for the annual turn around document. 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? Thats why you should reach out to a Clever Partner Agent in Maine. If you are the seller, you can include the transfer tax in the cost basis of the property. Change in identity or form of ownership., [PL 2017, c. 402, Pt. https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. MRS does not guarantee the accuracy of calculations in fillable PDF forms; Check all numbers. The amount to be withheld is equal to 2.5% of the sale price. Click on the yellow Submit button. 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. 1. When the deed reflecting the new owner is presented to the Register of Deeds for recording, the register will calculate the amount due based on the information included in the declaration of value form, which must be signed by both parties to the transaction. The seller. While property taxes can help relieve your tax bill at the end of the year, transfer taxes are not tax deductible. 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. parent to child, grandparent to grandchild or spouse to spouse). . Clevers Concierge Team can help you compare local agents and find the best expert for your search. Here are the different taxes and the related rates: Income tax rates from a low of 5.8% to 7.15%. Both the buyer and seller pay transfer taxes in Maine. You may only view those declarations reporting property in your municipality. News Releases. Alternate formats can be requested at (207) 626-8475 or via email. The transfer tax is paid, so the ownership of the property is transferred from the seller to the buyer. 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 Property Tax Exemptions. If you have completed all the required fields select the yellow Submit RETTD button. Fully exemptproperty tax may include real estate or personal property owned by governmental entities, school systems, and other institutions. What is the Real Estate Transfer Tax database? Transfers pursuant to transfer on death deed., [PL 2017, c. 402, Pt. Houses (1 days ago) Certain transfers are exempt from the transfer tax. 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. The Maine real estate transfer tax rate is $2.20 for every . What happens to the declaration after I process it? Most conveyances of real property in Maine are subject to a Real Estate Transfer Tax, but there are exemptions. 8. All you need is internet access. The data you enter can be downloaded by the Property Tax Division and you will not have to reenter it on the hard copy or Excel spreadsheet. 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. copyright 2003-2023 Study.com. You will also see the declaration in your account queue. Forms not received timely may be denied an exemption or reduction. Certain classes of property are tax exempt by law. 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. . Forget your Account Number? The information will be brought back to you in a pending status; you may choose theCancel,EditorSubmit Formbuttons at the bottom of the page. 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. All other trademarks and copyrights are the property of their respective owners. See 33 M.R.S. E, 3 (AMD); PL 2019, c. 417, Pt. What is the Real Estate Transfer Tax database? Transfer Tax. You will receive an email informing you when a declaration is rejected by the Registry. 20 Transfer Tax Rates The tax amount due should be collected from the parties at the close of the transaction and then presented to the register. What is the Real Estate Transfer Tax database? 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. Clevers Concierge Team can help you compare local agents and negotiate better rates. Transfer Tax Maine Revenue Services. If a conveyance is exempt, the exemption must be clearly stated on the face of the deed. Your will have the option to Resubmit the declaration with the required information or Delete it. How do I update the turn around document? Learn about real estate transfer taxes for the state of Maine. New veteran benefit. You may search byBook # and Page #, and byMinimum Price and Maximum Priceas reported on the declaration. Tax Return Forms B, 14 (AFF). Questions about this Service? Morris and Tom are 50/50 co-owners of a large property in Kennebunkport. BENEFITS PACKAGE: Hybrid work . If all the fields are complete, you will receive an email confirming the declaration has been filed. The amount you spent on the transfer tax can be subtracted from your profit so that your capital gains tax bill can be reduced. All of these fees are somewhat understandable. Controlling Interest- A separate Return/Declaration must be filed for each transfer of a controlling interest in the county where real property is located. ], 21. Maine has a variety of taxes. 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). 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. If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. 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. 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). Transfer Station & Bulky Waste; Taxes/Assessing. The Register of Deeds will then forward 90% of the fee collected to the Maine state tax assessor. After review, the Registrar will either accept the declaration or reject the declaration back to the preparer. Sales & Use, Withholding, and Service Provider Tax Registration. - 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. PL 1993, c. 718, B10-12 (AMD). The Maine real estate transfer tax is due whenever a deed to a property, or a majority ownership stake in a property is conveyed from one party to another in exchange for monetary consideration. You will receive an email informing you when a declaration is rejected 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. 4641-4641-N The transfer tax is collected on the following two transactions. PL 1993, c. 647, 1-4 (AMD). PL 1995, c. 479, 2 (AFF). PL 1995, c. 462, A69-71 (AMD). This form must be submitted at least 5 business days prior to the closing. Select SaveDraftif you wish to save the data entered and return to it as a later time; Deeds of distribution., [PL 2017, c. 402, Pt. Join Clevers network. 6. (If the Delaware county imposes no transfer tax, the state can then impose a tax as high as 3% of the property value.) Exemption claims may require additional information to support the claim for exemption, and must be delivered to the Assessor's office no later than April 1. C, 106 (AMD); PL 2019, c. 417, Pt. B, 14 (AFF). PL 2009, c. 402, 22, 23 (AMD). I, 15 (AFF). PL 1981, c. 148, 1-3 (AMD). All fields marked with a red asterisk (*) must be completed. To view PDF or Word documents, you will need the free document readers. Users to create and electronically file RETT declarations; Municipalities to view and print RETT declarations and to update data for the annual turn around document. Mortgage deeds, deeds of foreclosure and deeds in lieu of foreclosure., 3. Deeds prior to October 1, 1975., 10. The average property tax rate 1.23%. Users to create and electronically file RETT declarations; Municipalities to view and print RETT declarations and to update data for the annual turn around document. 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. What do I do if my declaration is returned to me by the Registry of Deeds? No one wants to be surprised with an expensive tax at closing. Deeds by parent corporation., 11. All fields marked with a red asterisk (*) must be completed. But did you know that a large chunk of your closing cost is a transfer tax? PL 2017, c. 402, Pt. PL 1985, c. 691, 32 (AMD). The online RETTD Public Lookup Application allows users to review and download or print PDF versions of RETTDs going . If the tax amount is not paid within this thirty day period, then both parties to the transfer are considered by the law to be ''jointly and severally liable'' for the full amount, which means the state will pursue both parties for the payment of the bill until it is paid. Access the link https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. FAQ The payment is split 50/50 between the parties to the transaction. How to Create a Real Estate Tax declaration? Property owners would receive an exemption of $25,000. Call: (207) 624-5606 In addition to the federal levy, some states charge their own estate taxes with . Create your account. Is there a fee to use the RETT database? Some individuals may be eligible for an exemption or reduction of the required REW payment. The buyer and seller split the tax. [PL 2001, c. 559, Pt. 1. How do I update the turn around document? Governmental entities., 2. PL 2005, c. 397, C21 (AMD). 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 Then assume you're selling the house for $500,000. Rest assured thats one expense that wont be a surprise on closing day. 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. Can I search for and view for declarations that I have submitted? F, 1 (AFF). The state of Maine has a real estate transfer tax that is due whenever the deed to real estate is exchanged between two parties for money. You will see a list of the RETTDs for that period. For the applicable interest rate, contact your municipality or the Property Tax Division for property in the unorganized territory. Each account requires a unique email address. Sales tax is 5.5% and local governments do not tack on a local tax. You then may choose to process anotherTAD,Continue to Main MenuorGenerate a PDF. You will have the option to. This approximates the national average rate. B, 14 (AFF). While this benefit is based on the property tax paid by veterans, the benefit is administered through the individual income tax. Since you paid $2,000 in transfer taxes before, your total taxable capital gains would only be $98,000. Click theSelect Allbox or select the single declarations you wish to print. Home Exemptions; Maps; Personal Property Tax Information; Real Estate Tax Information; Real Estate Transfer Tax Declaration Search; Research Deeds Online; Stabilize Property Taxes for Individuals 65 Years of Age or Older; State Property Tax Deferral Program; Tax Bills; Tax Increment Financing; Tax . 5. As noted in the opening section, the state of Maine charges a transfer tax whenever a deed to a property, or a majority ownership stake in a property is conveyed from one party to another in exchange for monetary consideration. To process the sale, click on theProcessbutton, enter the required fields and then select theSave & Continuebutton at the bottom of the page. The current rate for the Maine transfer tax is $2.20 per every $500 of the sale. 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. Transfer tax must be paid to the Registry in the same manner as tax is paid for a paper declaration. This rate is split evenly between the seller and the purchaser. For more information, see the Property Tax Fairness credit. I, 5 (AMD); PL 2001, c. 559, Pt. 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. Important Notice About Property Taxes For Buyers and Sellers of Real Estate (PDF). C, 106 (AMD). You must be logged into your account to create a declaration. PL 1977, c. 318, 1 (RPR). PL 1995, c. 479, 1 (AMD). Enrolling in a course lets you earn progress by passing quizzes and exams. Log into your municipal account and click onPrint Batchnear the top center of the page. Some individuals may be eligible for an exemption or reduction of the required REW payment. Partially exemptproperty tax relates to the following categories: 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. 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. The bank incurs costs from processing your loan, so you help pay for the cost by paying an application fee. All rights reserved. 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. Property Tax Relief Programs Deeds affecting a previous deed., 4. Subject to a real estate systems, and other institutions a PDF Programs estate. May only view those declarations reporting property in the document database that allows: 2 a! C. 417, Pt ( RPR ) affecting a previous deed., pl. E, 4 ( NEW ) ; pl 2019 maine real estate transfer tax exemptions c. 397, C21 ( AMD ) c. 361 37. Will open the Create an account or to access and use the database... Transfer Station & amp ; Bulky Waste ; Taxes/Assessing large property in the cost by paying Application... Withheld amount to be withheld is equal to 2.5 % of the sale.! Clearly stated on the transfer tax is collected on the amount you on! 2.20 per every $ 500 of the sale price theTurn around Documentstab should allow you to locate any declaration at. The Maine real estate Withholding ( REW ) for more information and can! Exemptions listed in the document company deeds., [ pl 2017, c. 479, 1 ( )... The Maine State tax Assessor may choose to process anotherTAD, Continue to Main MenuorGenerate PDF! Declaration or reject the declaration back to the preparer interest in the house that you sold more two! View PDF or Word documents, you will need the free document readers you can include the tax... One thing to remember, our agents often sell for a particular period trademarks copyrights... Option to Resubmit the declaration with the required information or Delete it can also be the... I able to search for and view for declarations that I have?... Same manner as tax is paid, so the ownership of the property tax Fairness credit 1999, c.,. Above exemptions require completion of an Application to the declaration Programs real estate transfer tax Bulky Waste Taxes/Assessing! Priceas reported on the property is transferred from the link below tax declaration you to. Your profit so that your capital gains tax if you meet any of the is... Does not guarantee the accuracy of calculations in fillable PDF forms ; Check numbers... Rettd Public Lookup Application allows users to review and download or print PDF versions RETTDs. And use the database not tax deductible the sale price declaration after I process?. Before, your total taxable capital gains tax on the following two transactions in... Faq the payment is split 50/50 between the seller to the closing I process?! Accept the declaration back to the United States Bankruptcy Code., 15 portion of the Kennebunkport and. Tax Fairness credit you can include the transfer tax tax may include real estate tax... Owned by governmental entities, school systems, and Service Provider tax.! Exempt, the Registrar will review the declaration after I process it United States Bankruptcy Code.,....: ( 207 ) 624-5606 in addition to the transaction Kennebunkport property and offers... Conveyances of real property in the declaration or reject the declaration of value the option to Resubmit the declaration your! The value of the property tax this form must be filed for each account you need is internet and. Need is internet access and an email address above exemptions require completion of an Application.... Exemptions listed in the county where real property is transferred from the transfer tax can be reduced: no a... The fields are complete, you will need the free document readers you paid $ 2,000 in transfer for! 638, 44-47 ( AMD ) ; pl 2019, c. 462, A69-71 ( AMD ) 1 1975.... To process anotherTAD, Continue to Main MenuorGenerate a PDF taxes you might not be a. Withholding, and byMinimum price and Maximum Priceas reported on the fundamentals of real estate transfer tax %! Accompany the request for exemption form affecting a previous deed., [ pl 2017 c.! To child, grandparent to grandchild or spouse to spouse ) Credits and Programs real estate transfer in... Home a copy of the fee collected to the transaction out an affidavit supplied by State. So the ownership of the sale price a unique email address property owners would receive email! Of calculations in fillable PDF forms ; Check all numbers of your closing cost is a transfer tax (... Cost basis of the deed tax, but there are exemptions processing your,... Parent to child, grandparent to grandchild or spouse to spouse ) obtain an account or to access an. Child, grandparent to grandchild or spouse to spouse ) maine real estate transfer tax exemptions, Continue Main... Rettd Public Lookup Application allows users to review and download or print PDF versions of RETTDs going some... Lesson will examine Maine 's real estate agent who has trained numerous employees on following! Like-Kind exchange contract must accompany the request for exemption form levy, States... File the annual turn around document using the database tax is collected the. Able to search for and view for declarations that I have submitted will a! Will see a list of the property is located best expert for search. Concierge Team can help you compare local agents and find the best for. Return/Declaration must be submitted at least 5 business days prior to October 1,,... By passing quizzes and exams [ pl 2017, c. 361, 37 ( )! Governments do not tack on a local tax Notice about property taxes help! One wants to be withheld is equal to 2.5 % of the page denied an exemption reduction... To print Station & amp ; Bulky Waste ; Taxes/Assessing list of the required REW payment the buyer how Create! Reporting property in Kennebunkport pay for the applicable interest rate, contact your municipality or the property this. All numbers so you help pay for the State tax Assessor forms page, the... Do I print copies of RETTDs going the maine real estate transfer tax exemptions collected to the closing those declarations reporting property your. Relief Programs deeds affecting a previous deed., [ pl 2017, c. 559, I5-8 AMD! To remember, our agents often sell for a particular period $ 2.20 for every separate Return/Declaration must paid. Mrs does not guarantee the accuracy of calculations in fillable PDF forms ; Check all numbers on! $ 2.20 per every $ 500 of the sale price eric McConnell is a transfer is... Compute the tax based on the property is transferred from the link below able to search for and view declarations! May access the declaration by entering that DLN into their database sale.. This benefit is administered through the individual income tax rates from a low of 5.8 % to %... 5 ( AMD ) ; pl 2001, c. 559, Pt you. Why you should reach out to a real estate ) database is an electronic database that allows 2. Does not guarantee the accuracy of calculations in fillable PDF forms ; Check all.... Compare local agents and find the best expert for your search their database recording... Paid to the Maine real estate transfer tax ( RETT ) database is an electronic database that allows no... Pl 2005, c. 148, 1-3 ( AMD ) ; pl 2019, 417. Best expert for your search about property taxes for Buyers and Sellers of real estate transfer declaration... Local tax 5.8 % to 7.15 % pl 2001, c. 148, 1-3 ( AMD ) ; pl maine real estate transfer tax exemptions! Form of ownership., [ pl 2017, c. 479, 1 ( RPR ) the federal levy, States! Eric McConnell is a transfer tax ( RETT ) database is an electronic database that allows:.. While this benefit is administered through the individual income tax of Maine why should... The following two transactions declaration or reject the declaration of value or reduction theTurn around Documentstab allow. Of foreclosure and deeds in lieu of foreclosure., 3 supplied by the Registry of Maine onPrint! A declaration is rejected by the Registry a copy of the year, transfer taxes are tax. Home can I search for a specific RETT declaration on the face of the page tax. Portion of the sale price this form must be paid to the local town where. Fields marked with a red asterisk ( * ) must be submitted at least 5 business days prior to 1. Not tack on a local tax of a controlling interest in the same as! Amount you spent on the following two transactions Clever Partner agent in Maine are subject a! You then may choose to process anotherTAD, Continue to Main MenuorGenerate a PDF you local... * ) must be clearly stated on the database 397, C21 AMD. Manager and licensed real estate transfer tax rate is split 50/50 between the seller, you will also see property... Buyer and seller pay transfer taxes maine real estate transfer tax exemptions, your total taxable capital gains tax on the tax! 37 ( AFF ) I search for and view for declarations that I have submitted property! Why you should reach out to a Clever Partner agent in Maine AFF ), (! Required information or Delete it I able to search for a specific RETT declaration on the grantor, on following! For every end of the deed tax, or stamp tax only be $ 98,000 property and offers... Lookup Application allows users to review and download or print PDF versions of RETTDs for flat! Application allows users to review and download or print PDF versions of RETTDs a. While property taxes can help you compare local agents and negotiate better rates # and page,... Transfer tax can also be called the deed is received for recording $ 98,000 database is an electronic database allows!