Property transfers: Mahoning County auditor stiffens requirements for some fee exemptions

Local News

YOUNGSTOWN, Ohio (WKBN) – Mahoning County Auditor Ralph Meacham is stiffening some requirements to get a fee exemption when transferring ownership of property.

Right now, Ohio charges a mandatory fee of $1 per $1,000 of the sale price. The county can charge up to $3 per $1,000, plus a 50-cent per parcel transfer fee.

Those fees can be waived under certain circumstances, such as a transfer to a child, spouse or trust.

To make sure that the exemptions are being used appropriately, Auditor Meacham now requires the following documentation at the time of transfer to or from a limited liability company (LLC):

  • A notarized Affidavit of Facts stating the reason for the transfer and why there was no money involved
  • State Certificate of the Articles of Organization
  • Identification of the members with respective percentage of units of interest
  •  A written statement from the seller/grantor declaring the following:     
    a) Total amount paid to the seller/grantor as consideration for the sale of the LLC membership/ownership interests;
    b) The portion of the total that is allocated to real property owned directly or indirectly by the LLC;
    c) The percentage of the ownership interest in the LLC being transferred;
    d) The LLC’s percentage of ownership interest in the person that directly owns the real estate;
    e) A copy of any purchase agreement and closing/settlement statement.

Meacham said he realizes there may be some “resistance” to the new requirements but added that any LLC should have the documents readily available. The documents are also available on the Ohio Secretary of State website.

“As administrator of these fees imposed by both Mahoning County and the State of Ohio, it is my duty to ensure that the law is being enforced fairly and impartially and that everyone is paying what they should,” Meacham said.

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