Is There a Montana Real Estate Transfer Tax?
Does Montana have a real estate transfer tax? Learn how transfer taxes work in Montana and what you can expect when buying or selling a home in the Treasure State.
Selling your home in Montana? You might have some questions about the Montana real estate transfer tax.
Transfer taxes are fees that the state, county, or city imposes when property ownership is transferred from one party to another. These taxes can vary widely depending on where you’re located and the specifics of the property sale.
This guide will explain how the Montana real estate transfer tax works, giving you insight into what to expect in the Treasure State.
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What are transfer taxes?
Real estate transfer taxes are assessed by state or local governments when a property changes hands. According to the Federal Trade Commission, these taxes are triggered once the title — or the legal rights to a property — is transferred from one person to another.
The actual tax rate and the responsibility for paying this tax can vary depending on the property’s location, reflecting different state, county, or city regulations.
Who pays for transfer taxes?
Unlike many other states, Montana does not have a real estate transfer tax on real estate transactions, which can alleviate some of the financial burden on sellers or buyers.
According to the Tax Foundation, property taxes in Montana are ranked 35th in the nation, around the lower end of the spectrum.
