California has a special tax when you buy or sell a house called the real estate transfer tax! It's like a fee for changing the house's owner.
It's usually a small amount for every $1,000 of the house's value. Some cities add their own extra tax on top. Who pays (the buyer or seller) depends on where the house is and what they agree on.
It's important to know about this tax before buying or selling a house in California.
- The basic tax is $1.10 for every $1000 of the house's price.
- Some cities charge extra taxes.
- Often, the seller pays, but it can be negotiated.
| Tax | Amount |
|---|---|
| Basic Transfer Tax | $1.10 per $1000 of house value |
| City Taxes | Varies, can be much higher in some cities |
