Effective January 1st 2020 the new Graduated Real Estate Tax went into effect. To accommodate this update, we recently unveiled our online REET Calculator designed to save you time and give you a clear understanding of what to expect in the coming year. We have taken this a step further with the development of a interactive REET widget that loads automatically on MyTicor.com!
To try the Widget simply visit MyTicor.com and it will load automatically!
What is REET? Real estate excise tax (REET) is a tax on the sale of real estate. The real estate excise tax is typically paid by the seller of the property, although the buyer is liable for the tax if it is not paid. The tax applies to the seller. The tax also applies to transfers of controlling interests (50% or more) in entities that own property in the state.