Real estate transfer tax

📘 Briefly explained Real estate transfer tax is a tax that is incurred when purchasing a plot of land or a property. It is calculated on the purchase price and must be paid by the buyer. The amount of the tax varies depending on the federal state and ranges between 3.5 and 6.5 percent of the purchase price. The assessment basis is generally the agreed purchase price, although certain considerations such as assumed debts may also be added. The tax is only incurred when ownership of a domestic property is transferred. It must be registered and paid to the tax office within one month of the notarization of the purchase contract. 🔍 Why this is important Real estate transfer tax is a transaction tax that is incurred upon the acquisition of domestic properties or rights equivalent to real property. The assessment basis is generally the purchase price, with debt assumptions and other considerations added. Tax debtors are usually the buyer and seller as joint debtors, while economically it is usually borne by the acquirer. The tax rates vary depending on the federal state between 3.5 and 6.5 percent, which leads to considerable regional differences. …