Instructions to the Real Estate Transfer Tax Form

The Transfer Tax Form (Declaration of Value) must be filed at the County Register of Deeds at the same time as the recording of the accompanying deed. A transfer tax will be collected by the Registry based on the amount of value. The tax is calculated at $2.20 per $500 of fractional value and is imposed half on the grantee and half on the grantor. For more information or assistance in the preparation of this form, please contact the Property Tax Division at 207-624-5606.

  1. COUNTY. Enter only one county name. If the property is located in more than one county, then a transfer tax form must accompany the deed recorded in each registry and a portion of the transfer tax relevant to that property paid to each county.
  2. MUNICIPALITY/TOWNSHIP. Enter only one municipal name. If the property being transferred is located in more than one municipality, provide a list of additional municipalities using the supplemental form.
  3. GRANTEE/PURCHASER. a) and c) Enter only one name on each available line, beginning with last name first. Use the supplemental form for additional names. b) and d) – In the case of an individual, enter the Social Security Number and in any other case, enter a federal ID number. SS/EINs are not necessary for transfers involving unimproved land when the consideration is less than $25,000 or land with improvements when the consideration is less than $50.000.  In the event any person is without a taxpayer identification number, an affidavit explaining the reason should be attached to the declaration form. e) Only one mailing address is needed to represent the grantee(s).
  4. GRANTOR/SELLER. a) and c) Enter only one name on each available line, beginning with last name first. Use the supplemental form for additional names. b) and d) – In the case of an individual, enter the Social Security Number and in any other case, enter a federal ID number. SS/EINs are not necessary for transfers involving unimproved land when the consideration is less than $25,000 or land with improvements when the consideration is less than $50.000.    In the event any person is without a taxpayer identification number, an affidavit explaining the reason should be attached to the declaration form. e) Only one mailing address is needed to represent the grantor(s).
  5. PROPERTY. a) Enter the appropriate map-block-lot-sub lot number. If the municipality does not have property tax maps or if the transaction includes more than one map and lot or if the property being transferred is a portion of a larger parcel, then check the appropriate box. NOTE: You must enter only one map and lot number on the original form. Use the supplemental form to list multiple tax map and lot numbers. b) Type of Property – From the list provided below, enter the code that best describes the entire property that has transferred. c) Location –  (street, road, etc) must be entered if the municipality does not have property tax maps. d) Acreage – enter the accurate acreage of the entire property that has transferred. EXCEPTION: Both b) and d) do not need to be completed if the transfer was a gift.
  6. TRANSFER TAX.  a) Enter the actual sale price or enter “0” if the transfer is a gift. b) Enter the fair market value of the property only if you entered “0” in a) or if you entered a sales price in a) that would be considered “of nominal value”. The fair market value is based on the estimated price a property will bring in the open market and under prevailing market conditions in a sale between a willing buyer and a willing seller and must reflect the value at the time of the recording.         c) Exemption Claim – if either party is claiming an exemption from the transfer tax, check the box and explain the reason for the claim. See Title 36 Section 4641C for a complete list of exemptions.
  7. DATE OF TRANSFER. Enter the actual date that the property transferred, which reflects when the ownership or title to the real property is delivered to the grantee. This may not be the same as the recording date.
  8. WARNING. Check the box if the property is classified as current use.
  9. SPECIAL CIRCUMSTANCES. If the sale of the property was either substantially more or less than the fair market value, check the box and provide a brief explanation as to the circumstances.
  10. INCOME TAX WITHHELD. If you have any questions please contact the Income Tax Division at 207-626-8473.
  11. OATH. Both buyer and seller OR their authorized agent must sign oath to the information on this form.
  12. PREPARER. Please provide the name, mailing address, phone number and email address of the person or company preparing this form if different from the parties of the transaction.

PROPERTY TYPE CODES

 

 

 

 

 

 

VACANT LAND

 

COMMERCIAL

 

INDUSTRIAL

 

Rural

101

Mixed Use

301

Gas and Oil

401

Urban

102

5+ Unit Apt.

303

Utility

402

Oceanfront

103

Bank

304

Gravel Pit

403

Lake/Pond front

104

Restaurant

305

Lumber/Saw Mill

404

Stream/Riverfront

105

Medical

306

Pulp/Paper Mill

405

Agricultural

106

Office

307

Light Manufacture

406

Commercial Zone

107

Retail

308

Heavy Manufacture

407

Other

120

Automotive

309

Other

420

 

 

Marina

310

 

 

RESIDENTIAL

 

Warehouse

311

MISC CODES

 

 

 

Hotel/Motel/Inn

312

 

 

Rural

201

Nursing Home

313

Government

501

Urban

202

Shopping Mall

314

Condominium

502

Oceanfront

203

Other

320

Timeshare Unit

503

Lake/Pond front

204

 

 

Non-Profit

504

Stream/Riverfront

205

 

 

Mobile Home Park

505

Mobile Home

206

 

 

Airport

506

2-4 Unit Apt.

207

 

 

Conservation

507

Other

220

 

 

Current Use Classification

508

 

 

 

 

Other

520