Scott County, Iowa

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Calculating Selling Price of Real Estate (Transfer Tax)

Real Estate Transfer Tax Rates:

From To Rate
June 21, 1932 June 30, 1940 .50 per $500
July 1, 1940 June 30, 1991 .55 per $500
July 1, 1991 Present .80 per $500

Examples:

Tax paid in 1994 of $159.20
159.20 divided by .80 = 199
199 x 500 = 99,500
99,500 + 500 = $100,000 (Price paid for Real Estate)

Tax paid in 1949 of $54.45
54.45 divided by .55 = 99
99 x 500 = 49,500
49,500 + 500 = $50,000 (Price paid for Real Estate)

Source: Iowa Department of Revenue & Finance