Heads up, all of you Cape Cod homeowners. If you sell your Cape home, effective July 1, 2009 you will pay more tax for the privilege of doing so.
Throughout Massachusetts (except in Barnstable County), sellers of property pay a state excise tax (called "deed stamps") upon sale in the amount of $4.56 per thousand of stated consideration in the deed. Barnstable County has long assessed an additional county excise tax for any property sold within Barnstable County, with sellers paying a combined state and county excise tax of $5.70 per thousand. It has just been announced that the Barnstable County deeds excise tax will increase so that as of July 1, 2009, any sale of property in Barnstable County will cost a seller a combined excise tax of $6.12 per thousand of sale price. Seller beware!
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