Are you eligible for a tax refund this year for the transfer tax that you paid? How do you know you are eligible for that tax refund and how do you go about getting a tax refund for that transfer tax? Here are steps to be looking for.
1. Sold home last four years.
2. Your State Equalized Value or SEV at the time of the sale was lower or equal to SEV when you purchased. If that is the case, you don't have to pay out the state transfer tax and sellers who did can get their money back.
3. You can call Denise Nelson Realtor, to get your SEV numbers.
4. To calculate transfer tax here is the formula .0075 x Sales Price = Refund. amount.
5. In order to get your money back, you have to fill out a single page form. Call Denise Nelson
Realtor at 616 432-4750 to get your single page form to send into the State today.
6. Provide proof of your sale and send it in. Enter the letter U under the exemption section to take advantage of the transfer tax refund.