Tim gave his house in another city to his sister. he had to pay taxes to the government on this transfer. what type of tax did the government levy?

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1 June, 08:37

Tim gave his house in another city to his sister. he had to pay taxes to the government on this transfer. what type of tax did the government levy?

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Lea Harrison · Answer 1

The type of tax that the government levied would be a property transfer tax. A transfer tax is imposed on tax on the sale, donation, barter, or any other mode of transferring ownership or title of real property. Hope this answers the question.