In Georgia, the transfer tax is calculated based on which amount?

In Georgia, the transfer tax is calculated based on the sales price of the property. This means that the amount used to determine the transfer tax is the final price at which the property is sold, rather than other financial metrics related to the transaction, such as the loan amount, down payment amount, or appraisal value.

This approach ensures that the tax reflects the actual value agreed upon in the transaction and is more directly tied to the economic exchange occurring in the sale of real estate. Since the sales price is usually documented in the closing statement or deed, it provides a clear basis for calculating the tax owed at the time of transfer, making it straightforward for both buyers and sellers to understand their obligations.