Real estate tip: Home seller may pay transfer tax

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Sales taxes are not charged on home sales but transfer taxes are levied in many states. A transfer tax is an assessment by state or local authorities at the time a piece of property changes hands. The seller usually pays this tax. Transfer tax rates average 50 cents per $500; on a $150,000 home, the tax would be $150. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....