Question: Does the City have the authority to change the recordation tax? (Councilwoman Alyia Gaskins)
Response:
Under the current State code, the City's recordation tax rate is set at the maximum allowable. The State limits the City's rate to no more than one-third of the State's rate. The State's rate is 25 cents per $100 of the deed or actual property value. The City's rate is 8.3 cents.