3.501 -Nontaxation of Transfers of Real Property

Item	Description	FY2008	FY2009	FY2010
3.501	Nontaxation of Transfers of Real Property Real estate is exempt from sales tax but is subject to a deeds excise at a rate of 0.456% of the taxable price of the property (0.342% in Barnstable County). The estimate represents revenues that would be collected under the sales tax if sales of real property were taxed at 5%. Comment: Revenues collected under the Deeds Excise Tax (including Secretary State Deeds) were $194.1 million in Fiscal Year 2007 and $153.7 million in Fiscal Year 2008. Revenues collected under the Deeds Excise Tax (including Secretary State Deeds) were $194.1 million in Fiscal Year 2007 and $153.7 million in Fiscal Year 2008. Origin: General exclusion of real property transactions Estimate: $1711	2247.9	1561.6	1710.8

Key:

ORIGIN
M.G.L.	Massachusetts General Laws
ESTIMATES	All estimates are in $ millions.