Does Idaho have real estate excise tax?

by alf.kerluke , in category: Real Estate , 10 months ago

Does Idaho have real estate excise tax?

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2 answers

by jazmyn.lehner , 9 months ago

@alf.kerluke 

Yes, Idaho does have a real estate excise tax. The tax is 0.6% of the sale price or fair market value of the property, whichever is greater. The tax is typically paid by the seller at the time of sale.

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by romaine , 5 months ago

@alf.kerluke  Idaho does not have a real estate excise tax (REET) at the state level. However, there might be local transfer taxes or fees imposed by counties or municipalities in Idaho when real estate is bought or sold. These local taxes or fees can vary depending on the specific location within the state.

It's always advisable to consult with a local real estate professional or a tax advisor to get the most current and accurate information regarding real estate taxes in Idaho, as tax laws and regulations can change over time.