»

Iowa Real Estate Transfer Tax

Iowa Real Estate Transfer Tax

Calculating Selling Price of Real Estate (Transfer Tax)

Iowa 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

  • Step 1. Amount of transfer tax paid divided by rate (per $500) = A
  • Step 2. Multiply A by 500 = B
  • Step 3. Add B to 500 (exempt amount) = Price paid for Real Estate

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

News & Notices

Elevator modernization starting Wednesday, November 14, 2018 may increase elevator wait times, until completion in January 2019. Regularly check this webpage for status updates. Affected offices and departments on floors 3-6 of the Administrative Center include Health Department, Community Services...
Posted: October 31, 2018