News & Insights

New Excise Tax Rate for Barnstable County

Effective July 1, 2016, the Excise Tax rate for the Barnstable County will increase to $3.06 per $1,000.00 of stated consideration from the present $2.70 per $1,000.00 of stated consideration.

The net effect of this increase is that the total combined State and County Excise Tax rate in Barnstable County will be $6.48 per $1000.00 of stated consideration or $3.24 per $500.00.

In Barnstable County as of July 1, 2016 the Excise Tax Rate will be:
$3.06 per $1,000.00 – Barnstable County Excise
$3.42 per $1,000.00 — State Excise
$6.48 per $1,000.00 – Total Excise Due

To calculate the tax, multiply the stated consideration for the deed by .00648. If the stated consideration does not end in an even $500.00 or $1,000.00 round the consideration up to the next $500.00 and then calculate the tax.

NOTE: Since Excise Tax is a Zero Tolerance item under TRID, and since the change takes place in about 6 weeks, lenders will need to know this ASAP for Loan Estimates going out NOW!

Posted In: News, Real Estate