What is a statement of value?

It is a state form that is used to set the value of a property being conveyed or to explain the reason for an exemption of transfer tax. They must be presented with a deed that is exempt of tax and our office will forward them to the Department of Revenue for review and final approval. Statements of value are required any time the true value of a property is not shown on the deed (such as in a $1 consideration) or when the tax is not paid at recording.

Show All Answers

1. What is the real estate transfer tax?
2. Who pays the transfer tax?
3. Are any transactions exempt?
4. What is a statement of value?