Tax Closing Costs

Property Taxes
This is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the buyer occupied the property.

Transfer Taxes and Recording Fees
This is the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.

Conveyance Fees                                                                                                                                                  

This is a generally paid by the seller and is calculated as a percentage of the sales price.  In Cuyahoga County it is .004% or $4.00 per $1,000 of the sales price of the property.  It varies from county to county in Ohio.