What is a Transfer Tax?

Top 50 Questions about Farmland

Hey, it's the Iowa Land guy, and here's the top 50 questions that I get asked about farmland. What the heck is Transfer Tax? Transfer tax or revenue stamps is something that the state of Iowa charges. When you transfer your land from one person to another person, how much does it cost? It's a dollar 60 per thousand dollars that your farm sells for.

So if you sell for a thousand dollars, It's a buck 60. If you sell for 1,000,006, well do the math. Divide it by a thousand and multiply times one 60. That's what transfer tax is. The state of Iowa helps their revenue by getting a transfer tax or revenue stamps.

David Whitaker | Iowa Land Guy