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- Welcome back for another Mavin Minute. Its Christopher, with Mavin Realty, in Clemmons, North Carolina. Serving all of North Carolina for you. So todays Mavin Minute. What is excise tax when you sell real estate? Great question. Excise tax is a tax thats required to be paid when you sell or transfer ownership of a home. This is paid by the seller typically. So how is it calculated, what is the amount? Wicked easy. Im gonna teach you a trick. You take this sell price of the home. Lets say thats $300,000. You divide that number by 500. Its that simple? So the excise tax on a $300,000 sale would be $600. And this is due at closing. So I hope this helps. If you have any question about excise tax, or anything else to do with real estate, let me know, glad to answer your questions. Thank you for tuning in. Like, and subscribe. Bye.
