Posted by Jochen | Posted in Real Estate News | Posted on Monday, April 6, 2009
Tagged Under : Cashiers, Highlands, home, Lake Glenville, Lake Toxaway, land, new deed, north carolina exercise tax, real estate, real estate for sale, revenue stamps, sale
Have you ever wondered how to calculate the revenue stamps (excise tax) on the sale of real estate in North Carolina? The tax rate is $2 per $1,000 of the sales price. So if you purchase a home or land for $900,000, the revenue tax would be $900,000 divided by 1,000 and multiplied by 2, which equals $1,800.
I hope this clarifies how to calculate the revenue stamps on the sale of property in North Carolina. Incidentally, this tax has not been raised since 1991.