Finance
Michigan's state real estate transfer tax rate is:
A$1.10 per $500 of value
B$3.75 per $500 of value✓ Correct
C$5.00 per $1,000 of value
D$2.25 per $500 of value
Explanation
Michigan charges a state transfer tax of $3.75 per $500 (or fraction thereof) of the sale price. Counties charge an additional $0.55 per $500 (or $0.75 per $500 in some counties), making the combined rate commonly $4.30 per $500.
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