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2023 - 2024 LEGISLATURE
2023 ASSEMBLY BILL 277
May 17, 2023 - Introduced by Representatives GREEN, KRUG, BEHNKE, BODDEN,
MURPHY, MURSAU, O'CONNOR, PLUMER, SCHMIDT, EDMING, OLDENBURG and
ALLEN, cosponsored by Senators STAFSHOLT, MARKLEIN, NASS, QUINN and
STROEBEL. Referred to Committee on Housing and Real Estate.
***AUTHORS SUBJECT TO CHANGE***
AN ACT to renumber and amend 77.24; to amend 77.22 (1); and to create
77.24 (1) (a) to (c) of the statutes; relating to: the amount and distribution of
the real estate transfer fee.
Analysis by the Legislative Reference Bureau
Current law, generally, requires a person who conveys an interest in real
property to file a real estate transfer return with the county register of deeds and pay
a real estate transfer fee equal to 30 cents for each $100 of the value of the
conveyance. The county retains 20 percent of the fees collected and transmits the
remainder to the state.
This bill decreases the real estate transfer fee from 30 cents to 20 cents for each
$100 of the value of the conveyance. Under the bill, the county retains 30 percent
of the fees collected in 2023 and 2024, 40 percent of the fees collected in 2025, and
50 percent of the fees collected in 2026 and each year thereafter.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SECTION 1. 77.22 (1) of the statutes is amended to read:
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SECTION 1 ASSEMBLY BILL 277
77.22 (1) There is imposed on the grantor of real estate a real estate transfer
fee at the rate of 30 20 cents for each $100 of value or fraction thereof on every
conveyance not exempted or excluded under this subchapter. In regard to land
contracts, the value is the total principal amount that the buyer agrees to pay the
seller for the real estate. This fee shall be collected by the register at the time the
instrument of conveyance is submitted for recording. Except as provided in s. 77.255,
at the time of submission the grantee or his or her duly authorized agent or other
person acquiring an ownership interest under the instrument, or the judgment
creditor in the case of a foreclosure under s. 846.16, shall execute a return, signed by
both grantor and grantee, on the form prescribed under sub. (2). The register shall
enter the fee paid on the face of the deed or other instrument of conveyance before
recording, and, except as provided in s. 77.255, submission of a completed real estate
transfer return and collection by the register of the fee shall be prerequisites to
acceptance of the conveyance for recording. The register shall have no duty to
determine either the correct value of the real estate transferred or the validity of any
exemption or exclusion claimed. If the transfer is not subject to a fee as provided in
this subchapter, the reason for exemption shall be stated on the face of the
conveyance to be recorded by reference to the proper subsection under s. 77.25.
SECTION 2. 77.24 of the statutes is renumbered 77.24 (1) (intro.) and amended
to read:
77.24 (1) (intro.) Twenty percent The following percentages of all fees collected
under this subchapter shall be retained by the county and the balance shall be
transmitted to the state.:
(2) Remittances shall be made monthly by the county treasurers to the
department of revenue by the 15th day of the month following the close of the month
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SECTION 2
ASSEMBLY BILL 277
in which the fee was collected. The remittance to the department shall be
accompanied by the returns executed under s. 77.22.
SECTION 3. 77.24 (1) (a) to (c) of the statutes are created to read:
77.24 (1) (a) In 2023 and 2024, 30 percent.
(b) In 2025, 40 percent.
(c) In 2026 and in each year thereafter, 50 percent.
SECTION 4.0Initial applicability.
(1) This act first applies to conveyances filed on the effective date of this
subsection.
(END)
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