Transfer tax
Iowa charges a real estate transfer tax of $0.80 per $500 of consideration above the first $500. It is customarily charged to the grantor, and how it applies to a gift with no consideration is confirmed when we prepare the deed.
Iowa is farm ground first and everything else second. The land here is among the most valuable cropland in the world, it is overwhelmingly cash rented, and a large share of it is owned by people who do not live in the state and have never farmed it. That is the conversation we have most often, alongside small-town houses and buildings with no local market.
Federal tax rules are the same in every state. These three are set by Iowa and by the county where the property sits.
Iowa charges a real estate transfer tax of $0.80 per $500 of consideration above the first $500. It is customarily charged to the grantor, and how it applies to a gift with no consideration is confirmed when we prepare the deed.
Iowa transfers are accompanied by a declaration of value and a groundwater hazard statement, the latter asking about wells, solid waste, underground tanks and private sewage on the property. Both are filed with the deed. We prepare them and ask you the questions rather than guessing at answers.
Deeds are recorded with the county recorder for the county where the property sits. You sign before a notary wherever you live, and we handle the filing.
Four situations that recur across the state.
Each links to the full guide for that type, including how a donation compares with selling.
Six Iowas, and cropland runs through all of them.
Inherited city houses, small rental property and farm ground on the suburban edge.
Older housing stock, industrial buildings and bluff land along the Mississippi.
Some of the highest-value cropland in the country, plus livestock ground and small towns.
Pasture, timber and recreational ground, with lower land values and thinner markets.
Steep timbered ground above the river bottoms, with row crop below.
Flat productive ground, tiled and cash rented, owned largely by non-farming heirs.
Iowa charges a real estate transfer tax of $0.80 per $500 of consideration above the first $500. It is customarily charged to the grantor, and how it applies to a gift with no consideration is confirmed when we prepare the deed.
No. We prepare the deed in the form Iowa requires for the county where the property sits, you sign before a notary where you live, and we record it with the county recorder.
The lease goes with the land and is honored. Iowa has notice rules for terminating a farm tenancy, and we do not ask anyone to break a lease to make a transfer work. Tell us the rent, the term and the tenant.
Iowa has a state income tax, and how it treats a charitable contribution is set by Iowa law rather than by us. Your federal deduction follows the usual IRS rules. Take the state question to your own advisor.
Sometimes, with a survey and a new legal description, and sometimes it is better to transfer them together so the value of the acres carries the buildings. We look at both rather than assuming.
We do not provide tax or legal advice. State and local transfer tax rules change; we confirm current requirements when we prepare each deed. Consult your own advisor.
The county and a parcel number are enough to start.