Understanding West Virginia’s Transfer Tax: A Quick Guide

Learn about the West Virginia transfer tax: Understand how it affects your property sale, and learn about possible exemptions.
When selling a home in West Virginia, you’ll likely pay a real estate transfer tax, a fee charged when property ownership changes hands. While not the largest closing cost, it’s an expense sellers should plan for.
This guide breaks down West Virginia real estate transfer tax rates, who pays them, and potential exemptions. We’ll also cover additional state, county, and city transfer fees. Here’s what to expect if you’re selling a home in West Virginia.
What are transfer taxes?
Real estate transfer taxes are state or local taxes applied when ownership of a property changes hands. According to the Federal Trade Commission, this tax is payable at the time a property’s title is transferred from one party to another. In other words, when you sell your home, the government imposes a fee on the legal transfer of ownership.
The amount owed depends on the property’s location and the specific tax rates set by the state, county, or city. These taxes help generate revenue for local governments and fund public services and infrastructure.
Who pays for transfer taxes?
In West Virginia, the seller is typically responsible for paying any real estate transfer taxes incurred as a part of a property sale.