Category

I

Intangible Tax
Intangible Tax. A tax the state of Georgia imposes on loans with terms of three years or longer which are secured by real property. The amount of the intangibles tax is $1.50 for each $500.00 of the loan amount and is disclosed in line 1203 of the settlement statement. For example, the intangles tax due on a $150,000.00, 30-year loan would be $450.00. The intangible tax is collected at closing and paid by the closing attorney.