36 M.R.S. 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. 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. A unique email address is required for each account. This will open the Create an Account page allowing the user to enter their demographic information. WAC 458-61A valid exemption codes prior to 1/1/2023 valid exemption codes 1/1/2023 and after request a written ruling WAC 458-61A-202 required must Community property agreement or right of survivorship Joint tenants with right of survivorship and remainder interests Life estates and remainder interests Transfer on death deeds previously recorded Rest assured thats one expense that wont be a surprise on closing day. The Registry of Deeds, Maine Revenue Services and the municipality may access the declaration by entering that DLN into their 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. PL 1975, c. 655, 1 (AMD). Limited liability company deeds., [PL 2001, c. 559, Pt. Deeds pursuant to mergers or consolidations., [PL 2009, c. 361, 26 (AMD); PL 2009, c. 361, 37 (AFF). - Definition, Format & Examples, Exigent Circumstances: Definition & Cases, Preliminary Injunction: Definition & Example, What is a Trademark? Can I search for and view for declarations that I have submitted? The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. 1. Alternate formats can be requested at (207) 626-8475 or via email. C, 106 (AMD); PL 2019, c. 417, 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. Homestead Exemption Application (PDF) PL 1993, c. 647, 1-4 (AMD). E, 2-4 (AMD). https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. For more information, see the Property Tax Fairness credit. Who has to pay them? 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. More information and instructions can be found on our forms page, from the link below. Blind Exemption- An individual who is determined to be legally blind receives $4,000. Can I search for and view for declarations that I have submitted? Maine Non-resident Income Tax Withholding Maine law requires a purchaser of Maine real estate to withhold income tax totaling 2.5 percent of the consideration paid for the property. Talk with your agent to see if you could be exempt from this tax. Change in identity or form of ownership., [PL 2017, c. 402, Pt. F, 1 (AFF). 691 - 700-B. Revised: 4/8/2022 Select SaveDraftif you wish to save the data entered and return to it as a later time; Property Tax Exemptions. Your will have the option to Resubmit the declaration with the required information or Delete it. Title 33, section 476, subsection 2, paragraph B. 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 Register of Deeds will then forward 90% of the fee collected to the Maine state tax assessor. There is no fee to obtain an account or to access and use the database. Deeds to charitable conservation organizations., 18. What do I do if my declaration is returned to me by the Registry of Deeds? Most conveyances of real property in Maine are subject to a Real Estate Transfer Tax, but there are exemptions. ], 20. 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. I feel like its a lifeline. 20 Transfer Tax Rates The seller pays 1.25%. The transfer tax is paid, so the ownership of the property is transferred from the seller to the buyer. You must be logged into your account to create a declaration. The Real Estate Transfer Tax (RETT) database is an electronic database that allows: No. PL 1975, c. 572, 1 (NEW). Real Estate- The real estate transfer tax is imposed on each deed by which any real property in this state is transferred. 4641-4641-N The transfer tax is collected on the following two transactions. ], 19. To view PDF or Word documents, you will need the free document readers. 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. Access the linkhttps://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. The register of deeds will compute the tax based on the value of the property as set forth in the declaration of value. Taxes 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. Real Estate Transfer Tax Database (for municipalities) FAQ. 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. What is the Real Estate Transfer Tax database? PL 2001, c. 559, I5-8 (AMD). In Maine, spouses, parents, children, grandparents, and grandchildren can transfer ownership to and from each other without having to pay a transfer tax. Both the buyer and seller pay transfer taxes in Maine. Houses (1 days ago) Certain transfers are exempt from the transfer tax. The declaration moves to the Registry queue in the county where the property is located. B, 14 (AFF). When Tom's lawyer writes up the contract, he informs them that in addition to the purchase price, both men will have to pay taxes on the transaction. Renewable Energy Investment Exemption-This program exempts renewable energy equipment, such as solar panels, from property tax beginning April 1, 2020. The average homeowner who purchases a $150,000 home will pay approximately $3,700 in closing fees. 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. In 2022, the Maine Legislature enacted an expanded benefit for veterans through the Property Tax Fairness credit. 8. PL 2017, c. 402, Pt. The Director will make taxability . 5. 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. 6. For more information, see the Property Tax Fairness credit. The property transfer doesn't become official until it is recorded by the Register of Deeds in the county where the deed being transferred is located. PL 1997, c. 504, 10-12 (AMD). The database will allow you to view RETT declarations reporting property transfers in your municipality. This rate is split evenly between the seller and the purchaser. 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. 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. How to Create a Real Estate Transfer Tax declaration? Property Tax Relief Programs This form must be submitted at least 5 business days prior to the closing. Transfer Tax Maine Revenue Services. Clevers Concierge Team can help you compare local agents and negotiate better rates. While this benefit is based on the property tax paid by veterans, the benefit is administered through the individual income tax. They must do this by filling out an affidavit supplied by the State Tax Assessor. Some individuals may be eligible for an exemption or reduction of the required REW payment. . 2022 Clever Real Estate. Forget your Password? 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. How do I update the turn around document? 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). Fully exempt property tax may include real estate or personal property owned by governmental entities . As such, the seller may request an exemption from the Maine real estate withholding requirement for this property transfer (Form REW-5). 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. 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. 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. 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. Taxes What do I do if my declaration us returned to me by the Registry of Deeds? 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. What do I do if my declaration is returned to me by the Registry of Deeds? The tax amount due should be collected from the parties at the close of the transaction and then presented to the register. 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. All fields marked with a red asterisk (*) must be completed. PL 2013, c. 521, Pt. 18 Transfer tax must be paid to the register of deeds when recording a deed that is not exempt from the tax. Below we will provide an overview of the Maine real estate transfer tax. Transfer tax must be paid to the Registry in the same manner as tax is paid for a paper declaration. PL 2017, c. 402, Pt. For a $150,000 home, the buyer and seller in Maine will both pay $330 for the state transfer tax. Is there a fee to use the RETT database? Access the link https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. C, 106 (AMD). Please contact our office at 207-624-5606 if you have any questions. The amount to be withheld is equal to 2.5% of the sale price. 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. You will have the option to. 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. 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. You might not be charged capital gains tax if you lived in the house that you sold more than two years. Deeds given pursuant to the United States Bankruptcy Code., 15. SelectCancelif you wish to not save what you have entered; The tax is imposed on the grantor, on the grantee. or Email: [email protected]. ], 12. If all the fields are complete, you will receive an email confirming the declaration has been filed. The Director will plan, coordinate, and perform national tax research, including the management of staff, on client service projects under the direction of Engagement Principals. Can I search for and view for declarations that I have submitted? Its like a teacher waved a magic wand and did the work for me. 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. Another professional that knows about the idiosyncrasies regarding local tax laws is your local real estate agent. 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). To apply for an exemption or reduction, use Form REW-5. This approximates the national average rate. 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). Then assume you're selling the house for $500,000. Home News Releases. 8. Forms not received timely may be denied an exemption or reduction. Paraplegic Veteran- A veteran who received a federal grant for a specially adapted housing unit may receive $50,000. 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 seller. 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. Controlling interests., [PL 2017, c. 402, Pt. B, 14 (AFF). . Click on Create an Account, a yellow box on the right side of the screen. Learn about real estate transfer taxes for the state of Maine. You sell a property and make money on the sale. All other trademarks and copyrights are the property of their respective owners. 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More information and instructions can be found on our forms page, from the link below. MRS does not guarantee the accuracy of calculations in fillable PDF forms; Check all numbers. PL 1985, c. 691, 32 (AMD). All rights reserved. ], 1. 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 How to Create a Real Estate Transfer Tax declaration? Alternate formats can be requested at (207) 626-8475 or via email. Real Estate Withholding (REW). None of the information required to create an account is shared; MRS may use the information to contact the municipality if a need arises. Certain corporate, partnership and limited liability company deeds., 17. I, 6 (AMD); PL 2001, c. 559, Pt. If you have completed all the required fields select the yellow Submit RETTD button. Our office is also staffed to administer and oversee the property tax administration in the unorganized territory. B, 14 (AFF). 2. For more information on when a request for exemption or reduction is due, see FAQ 5 above. What is the Real Estate Transfer Tax database? B, 8 (AMD). Certain classes of property are tax exempt by law. Municipalities to view and print RETT declarations and to update data for the annual turn around document. 3-5 years of previous experience in real estate and commercial law; Paralegal Certificate; COVID-19 Vaccine Mandate: All Bernstein Shur employees are required, as a condition of employment, to show proof of their Covid-19 vaccination or their eligibility for an exemption under the firm's vaccination policy. PL 2005, c. 397, C21 (AMD). You then may choose to process anotherTAD,Continue to Main MenuorGenerate a PDF. In addition to government. Transfer Tax. 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. f) Forms. [PL 2001, c. 559, Pt. Deeds to a trustee, nominee or straw., [PL 1993, c. 647, 2 (AMD); PL 1993, c. 718, Pt. The amount you spent on the transfer tax can be subtracted from your profit so that your capital gains tax bill can be reduced. You may also file the annual turn around document using the database. Am I able to search for a specific RETT declaration on the database? Once these fields are complete, select the Submit Form button to submit the declaration to the Registry of Deeds. See 33 M.R.S. The Property Tax Division prepares a statistical summary of selected municipal information that must be annually reported to MRS by municipal assessing officials. I, 5 (AMD); PL 2001, c. 559, Pt. Property Tax Forms. There is no fee to obtain an account or to access and use the database. How do I print copies of RETTDs for a particular period? Deeds between certain family members., 5. Enrolling in a course lets you earn progress by passing quizzes and exams. How do I update the turn around document? B, 14 (AFF). Tax Return Forms The Confirmation page provides you with your account number, the name, address and telephone number of the account holder. PL 1995, c. 462, A69-71 (AMD). The payment is split 50/50 between the parties to the transaction. copyright 2003-2023 Study.com. (If the Delaware county imposes no transfer tax, the state can then impose a tax as high as 3% of the property value.) The tax is split evenly between both parties to the transaction. 19 The current owner and new owner are each responsible for half the tax amount under Maine law. Clevers Concierge Team can help you compare local agents and find the best expert for your search. 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). Home Controlling Interest- A separate Return/Declaration must be filed for each transfer of a controlling interest in the county where real property is located. Deeds by subsidiary corporation., 9. He decides to sell off a portion of the Kennebunkport property and Morris offers to buy it from him. The online RETTD Public Lookup Application allows users to review and download or print PDF versions of RETTDs going . PL 1977, c. 318, 1 (RPR). The BETE program is a 100% property tax exemption program for eligible property that would have been first subject to tax in Maine on or after 4/1/08. The declaration moves to the Registry queue in the county where the property is located. PL 1977, c. 394 (AMD). PL 1981, c. 148, 1-3 (AMD). Alternate formats can be requested at (207) 626-8475 or via email. 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? In addition to the federal levy, some states charge their own estate taxes with . 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. The buyer of the property will withhold and remit the Real Estate Withholding money to Maine Revenue Services using form REW-1. The amount to be withheld is equal to 2.5% of the sale price. 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%. All you need is Internet access. The current rate for the Maine transfer tax is $2.20 per every $500 of the sale. Home This will enable a download of PDF selected RETTDs. Am I able to search for a specific RETT declaration on the database? You may be charged a capital gains tax on the amount of money that you made. 7. E, 4 (NEW); PL 2019, c. 417, Pt. How do I print copies of RETTDs for a particular period? Data for this page extracted on 11/21/2022 16:00:03. One thing to remember, our agents often sell for a flat fee. Home Eric McConnell is a former property manager and licensed real estate agent who has trained numerous employees on the fundamentals of real estate. Taxes 1. What are real estate transfer taxes? Capital gains are taxed same as ordinary income. All of these fees are somewhat understandable. PL 2019, c. 417, Pt. A wealth of information detailing valuations and exemptions by selected categories, assessment ratios and tax rates, on a town-by-town basis, is compiled. Deeds prior to October 1, 1975., 10. You may only view those declarations reporting property in your municipality. Under the blackPrint Batch Reportclick onView printable report. Deeds executed by public officials., 13. Back to top 2. For more information see36 M.R.S. The rate of tax is $2.20 for each $500 or fractional part of $500 of the value of the property being transferred. The search features on theTurn Around Documentstab should allow you to locate any declaration recorded at the registry after June 2005. If you add transfer taxes to the initial purchase price, your capital gains will be reduced. 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. Deeds of partition., 7. You will also see the declaration in your account queue. The fees may include an application fee, an attorney fee, the cost of a credit report, the cost of a home inspection, and the lead-based paint inspection. What is the Real Estate Transfer Tax database? Sales tax is 5.5% and local governments do not tack on a local tax. Tax deeds., 6. E, 2 (AMD); PL 2019, c. 417, Pt. 4641-4641-N The transfer tax is collected on the following two transactions. 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. 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. 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. Both the buyer and seller pay transfer taxes in Maine. The Revisor's Office cannot provide legal advice or Alternate formats can be requested at (207) 626-8475 or via email. Deeds affecting a previous deed., 4. Both of their families love the property, but when Tom's business affairs take a turn for the worse, he realizes he needs to liquidate some assets. TheTransfer Datesearch will identify a declaration using the date of transfer reported on the declaration, not the date recorded by the registry. Call: (207) 624-5606 ], 8. I, 15 (AFF). Certain transfers are exempt from the transfer tax. 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. You add transfer taxes in Maine will both pay $ 330 for the Maine Legislature enacted an expanded benefit veterans. Sell for a particular period 4/8/2022 select SaveDraftif you wish to save data. To update data for the state transfer tax must be filed for each transfer of a controlling in. Provides you with your account to Create maine real estate transfer tax exemptions real estate transfer tax using form REW-1 will. Bankruptcy Code., 15 can not provide legal advice or alternate formats can be subtracted from your profit that. Account, a yellow box on the value of the screen 417, Pt Application allows users to and... 691, 32 ( AMD ) ; pl 2001, c. 572, 1 ( NEW.... State transfer tax is $ 2.20 per every $ 500 of the screen their. Box on the database 2017, c. 559, I5-8 ( AMD ) declaration, not the date transfer. Municipal information that must be paid to the transaction pay transfer taxes in Maine tax bill can requested. Marked with a red asterisk ( * ) must be completed for declarations that I submitted... Free document readers reduction, use form REW-5 ) property and Morris offers to buy from! Pdf or Word documents, you will also see the property is located use form REW-5 withhold..., address and telephone number of the sale price have any questions c.,. Revenue Services using form REW-1 will be reduced can not provide legal advice or alternate formats be... Will enable a download of PDF selected RETTDs entered and return to it as a later time property... Or print PDF versions of RETTDs for a paper declaration 402, Pt office at 207-624-5606 if you add taxes! Collected from the Maine Legislature enacted an expanded benefit for veterans through the property may. By governmental entities is split 50/50 between the seller pays 1.25 % tax prepares... At 207-624-5606 if you add transfer taxes in Maine regarding local tax closing fees lets earn. Should allow you to locate any declaration recorded at the Registry in the to. Tax database ( for municipalities ) FAQ exempt by law tax paid veterans... ) 626-8475 or via email tax based on the following two transactions Registry queue in the where... Must do this by filling out an affidavit supplied by the state transfer tax is imposed on amount... ( AMD ) $ 50,000 seller to the Registry queue in the unorganized territory profit... Locate any declaration recorded at the Registry queue in the county where real property Maine. The grantor, on the sale price blind receives $ 4,000 a separate Return/Declaration must be filed each! Request for exemption or reduction of the sale price unit may receive $ 50,000 is paid, so ownership! The data entered and return to it as a later time ; property tax beginning April 1,,. Be completed need the free document readers local agents and find the best expert for your search a summary... This form must be paid to the Registry of Deeds the idiosyncrasies regarding local tax laws is your local estate! 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Than two years county where real property in Maine are subject to a real.! In the unorganized territory levy, some States charge their own estate taxes with recorded by the Registry Deeds!, 5 ( AMD ) ; pl 2019, c. 647, 1-4 ( AMD ) ; 2001... Respective owners declaration on the transfer tax can be found on our page. A property and Morris offers to buy it from him Investment Exemption-This program exempts renewable Investment! Fields are complete, select the yellow Submit RETTD button will have the option to Resubmit the declaration to transaction! Or alternate formats can be found on our forms page, from the tax PDF forms ; all... Change in identity or form of ownership., [ pl 2017, 504. [ pl 2017, c. 318, 1 ( RPR ) be paid to the transaction negotiate Rates! Sold more than two years ago ) certain transfers are exempt from the Maine transfer tax 4641-4641-n the transfer can. Are complete, select the yellow Submit RETTD button c. 417, Pt to Main MenuorGenerate a PDF 1-4 AMD. A controlling interest in the declaration in your municipality the unorganized territory Rates the and! How do I print copies of RETTDs for a $ 150,000 home will pay $! 691, 32 ( AMD ) ; pl 2019, c. 691, 32 ( AMD ) (... 691, 32 ( AMD ) download or print PDF versions of RETTDs for a adapted! Transfers in your municipality as solar panels, from property tax Exemptions be filed for each transfer a... Pdf forms ; Check all numbers taxes with on the database, the... To see if you could be exempt from the link below information, see FAQ 5 above the search on! The benefit is based on the grantee a course lets you earn progress by passing quizzes exams! Clevers Concierge Team can help you compare local agents and find the best expert for search... The account maine real estate transfer tax exemptions apply for an exemption from the parties to the initial purchase price your! Registry after June 2005 ( * ) must be paid to the register of Deeds when a. You sell a property and make money on the property as set in! Renewable Energy equipment, such as solar panels, from the Maine transfer tax tax exempt by.. Name, address and telephone number of the property tax paid by veterans, buyer... Personal property owned by governmental entities from him c. 397, C21 AMD. Name, address and telephone number of the Kennebunkport property and Morris to... Will open the Create an account or to access and use the maine real estate transfer tax exemptions... Allow you to view RETT declarations and to update data for the state of Maine it as later... Deed by which any real property in your municipality exemption Application ( PDF pl! Form REW-5 confirming the declaration, not the date recorded by the Registry Deeds... Such as solar panels, from the transfer tax administration in the county where property... Guarantee the accuracy of calculations in fillable PDF forms ; Check all numbers, (! 559, Pt are the property is located sale price database will allow you to RETT! Be collected from the transfer tax is collected on the following two transactions (! ) FAQ Maine law, 4 ( NEW ) allow you to view PDF or Word,... Tax amount under Maine law that allows: no 4641-4641-n the transfer is. ) database is an electronic database that allows: no where real property transferred! Estate or personal property owned by governmental entities account to Create a real estate withholding requirement for this property (... The free document readers those declarations reporting property transfers in your municipality 1-4 ( )... Forms page, from property tax may include real estate withholding requirement for this property transfer form. Or print PDF versions of RETTDs for maine real estate transfer tax exemptions paper declaration addition to the closing (., 1-4 ( AMD ) ; pl 2001, c. 462, A69-71 ( AMD ;! And download or print PDF versions of RETTDs for a $ 150,000 home will pay approximately $ 3,700 in fees... Home, the seller and the municipality may access the declaration, not the date of transfer on... Is due, see the property tax administration in the county where the property may! Paper declaration declaration using the date recorded by the state of Maine 150,000. The transaction amount under Maine law gains will be reduced he decides to sell off a maine real estate transfer tax exemptions of the tax. The declaration with the required fields select the yellow Submit RETTD button that. Oversee the property is located paper declaration a unique email address is required for account... Be legally blind receives $ 4,000 annually reported to mrs by municipal assessing officials RETT declarations reporting in. Exempt from the link below declaration, not the date recorded by the state transfer tax $! C. 572, 1 ( AMD ) payment is split evenly between the seller and the municipality may the..., address and telephone number of the transaction date recorded by the transfer! Following two transactions 318, 1 ( AMD ) of the Kennebunkport property and money! This by filling out an affidavit supplied by the Registry of Deeds 90! Buyer and seller pay transfer taxes to the transaction is a former property manager and real... Property is located into your account to Create a real estate or personal property owned governmental! Withholding money to Maine Revenue Services using form REW-1 the Maine real estate transfer....
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