What is the intangible tax rate for real estate transactions?

The intangible tax rate for real estate transactions is set at 1.50 for every $500 of the loan amount. This tax applies to certain types of loans linked to real estate, particularly in the context of mortgage financing. The calculation is based on the total amount of the loan, making it essential for buyers and lenders to account for this tax when finalizing transactions. An understanding of this tax is crucial for both real estate professionals and clients to ensure compliance and accurate budgeting for closing costs.

The rates provided in the other options do not align with the established intangible tax percentage associated with real estate transactions, making them incorrect in this context. Knowing the intangible tax rate is important for financial planning in real estate dealings.