|
County |
|
State Recordation Tax1 |
|
County Transfer Tax2 |
|
Property Tax Rate3 |
|
Code |
|
Allegheny |
|
$3.50 |
|
0.5% ($30,000.00 exemption if owner occupied) |
|
$1.132 |
|
1 |
|
Allegheny |
|
$7.00 |
|
0.5% ($30,000.00 exemption if owner occupied) |
|
|
|
|
|
Anne Arundel |
|
$3.50 |
|
1% |
|
$1.087 |
|
— |
|
Baltimore County |
|
$2.50 for each $500 (or fraction thereof) |
|
1.5% |
|
$1.247 |
|
2 |
|
Baltimore City |
|
$5.00 for each $500 (or fraction thereof) |
|
1.5% |
|
$2.460 |
|
8 |
|
Calvert |
|
$5.00 for each $500 (or fraction thereof) |
|
None |
|
$1.024 |
|
— |
|
Caroline |
|
$5.00 |
|
0.25% |
|
$1.084 |
|
3 |
|
Carroll |
|
$5.00 |
|
None |
|
$1.180 |
|
8 |
|
Cecil |
|
$4.10 |
|
None |
|
$1.112 |
|
4 |
|
Charles |
|
$5.00 |
|
None |
|
$1.148 |
|
— |
|
Dorchester |
|
$5.00 |
|
0.375% |
|
$1.062 |
|
— |
|
Frederick |
|
$6.00 |
|
None |
|
$1.132 |
|
— |
|
Garrett |
|
$3.50 |
|
0.50% |
|
$1.168 |
|
5 |
|
Harford |
|
$3.30 |
|
0.50% |
|
$1.224 |
|
1-8 |
|
Howard |
|
$2.50 |
|
0.50% |
|
$1.176 |
|
8 |
|
Kent |
|
$3.30 |
|
0.25% |
|
$1.144 |
|
— |
|
Montgomery |
|
$3.45 |
|
0.50% |
|
$0.883 |
|
5 |
|
Montgomery |
|
$5.00 |
|
0.50% |
|
$0.883 |
|
5 |
|
Prince George’s |
|
$2.50 |
|
0.70% |
|
$1.092 |
|
— |
|
Queen Ann’s |
|
$4.95 |
|
0.25% |
|
$1.108 |
|
6 |
|
St. Mary’s |
|
$4.00 |
|
0.50% |
|
$1.040 |
|
1 |
|
Somerset |
|
$3.30 |
|
None |
|
$1.142 |
|
— |
|
Talbot |
|
$3.30 |
|
0.50% |
|
$0.685 |
|
5 |
|
Washington |
|
$3.80 |
|
0.25% |
|
$1.080 |
|
— |
|
Wicomico |
|
$3.50 |
|
None |
|
$1.173 |
|
5 |
|
Worchester |
|
$3.30 |
|
0.25% |
|
$0.862 |
|
5 |
NOTE: The above Transfer & Recordation Taxes are based on customary splits (apportionment) between buyer and seller, the split is typically 50-50. In some cases, the parties may reallocate the responsibility to pay Transfer & Recordation Taxes.
We advise that you carefully review the sales contract prior to calculating the transfer & recordation taxes. If you have any questions, please contact us at info@milestonetitlellc.com.
|
1 |
|
Per $1,000 of purchase price (based on loan amount for refinancing transactions) |
|
2 |
|
Percent of purchase price |
|
3 |
|
Per $100 of value (includes state real property tax of …084/$100). |
NOTE: Tax rate may vary in cities of other incorporated areas.
1. The first $30,000 is exempt for owner occupied principal residence.
2. The first $22,000 is exempt for owner occupied principal residence.
3. The first $25,000 is exempt for owner occupied principal residence OR the first $75,000 is exempt for owner occupied principal residence AND first-time Maryland Homebuyers.
4. The first $50,000 is exempt from Recordation Tax for owner-occupied principal residence.
Example: A primary residence with the first $50k exempt from tax and a purchase price of $700k, will be taxed as follows:
|
450 x $3.45 = $1,552.50 |
5. Exempt for first time Maryland Homebuyer.
6. Washington County has a 2% Agriculture Tax, if applicable.
7. These counties require a lien certificate, fee ranging $25 – $55.