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County auditor requiring more documentation for fee exemptions

Staff report

YOUNGSTOWN — Mahoning County Auditor Ralph Meacham said he has been working to ensure that the proper fees are being paid when real estate transfers take place.

The office is requiring more documentation for fee exemptions.

Meacham said in a news release that Ohio charges a statewide mandatory conveyance fee of $1 per $1,000 of the sale price, and Mahoning County is permitted to charge an additional $3 per $1,000 sale price, plus a 50 cents-per-parcel transfer fee.

The state allows certain types of transfers such as parent to child, one spouse to another or to the trustee of a trust, among others, to qualify for exemption from these fees.

In an effort to ensure that the use of the exemption is appropriate, Meacham is now requiring the following documentation at the time of transfer to or from a limited liability company:

• A notarized Affidavit of Facts stating the reason for the transfer and why there was no money involved;

• A state Certificate of the Articles of Organization;

• Identification of the members with respective percentage of units of interest and a written statement from the seller / grantor declaring: amount paid to the seller/grantor as consideration for the sale of the LLC membership / ownership interests; portion of the total that is allocated to real property owned directly or indirectly by the LLC; percentage of the ownership interest in the LLC being transferred; the LLC’s percentage of ownership interest in the person that directly owns the real estate; and a copy of any purchase agreement and closing/settlement statement.

To ensure that law is being followed and everyone is paying what they should, Meacham is reviewing past exempt transfers to and from LLCs and requesting the same documentation, he said.

Meacham encourages anyone with questions to call his office at 330-740-2010.

news@vindy.com

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