closing

Georgia Transfer Tax and Intangible Recording Tax

Two state taxes on Georgia closings. The real estate transfer tax (O.C.G.A. §48-6-1) is $1.00 for the first $1,000 plus $0.10 per additional $100, effectively $1 per $1,000, excluding existing loans that the buyer assumes; the seller customarily pays. The intangible recording tax (§48-6-61) applies to long-term notes (any principal due more than three years out) at $1.50 per $500, or $3 per $1,000, capped at $25,000 per note, and is usually passed to the borrower.