Realty Conveyance: Amount

A tax is established on all conveyances, deeds, instruments, or writings whereby any lands, tenements, or other realty shall be sold, granted, transferred, or otherwise conveyed to the purchaser or purchasers, or to any other person or persons designated by such purchaser or purchasers, as follows: Two Dollars and Fifty Cents ($2.50) for each One Thousand Dollars ($1,000.00) or fraction thereof on the true consideration or value received for such realty. Provided, that in sales of encumbered property, the tax shall be collected on the net amount of the consideration after deducting the amount of the encumbrance.