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Conveyance Tax

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Dictionary Says

Definition of 'Conveyance Tax'

A tax imposed on the transfer of real property at the state or municipal level. The conveyance tax is generally calculated as a percentage of the sale price. If the property is sold for a very low amount, or transferred for free (such as between family members), it may be exempt from any conveyance tax, although estate transfer taxes may apply.
Investopedia Says

Investopedia explains 'Conveyance Tax'

In some jurisdictions, the conveyance tax increases as the property's sale price increases; while in others, it is a flat rate. The conveyance tax rate may also depend on the type of property (e.g., residential, nonresidential, unimproved land, etc.). While state and municipal conveyance taxes are common, there are no applicable federal conveyance taxes.

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