transfer tax

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Definitions from WordNet

Noun transfer tax has 1 sense

transfer tax - any tax levied on the passing of title to property
--₁ is a kind of tax, taxation, revenue enhancement
--₁ has particulars: inheritance tax, estate tax, death tax, death duty

Definitions from the Web

Transfer Tax

Description:

A transfer tax is a tax that is imposed on the transfer of property or assets from one person or entity to another. It is typically levied by the government at the time of the transfer and is based on the value of the property or assets being transferred.

Sample Sentences:

Noun - General Sense:

I had to pay a hefty transfer tax when I sold my house.
The transfer tax on the estate was quite significant.

Noun - Local Context:

In this city, there is an additional transfer tax for properties sold within the downtown area.
Local transfer tax rates vary depending on the county you reside in.

Adjective - General Sense:

The government recently introduced a new transfer tax policy.
High transfer tax rates can discourage people from buying and selling property.

Adjective - Local Context:

The local government is considering raising the transfer tax rate to fund public infrastructure projects.
Buyers should be aware of the specific local transfer tax regulations before completing the transaction.

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