1. If loan amount is higher than the sales price, be sure to collect recordation tax on the excess loan amount in addition to the sales price.
2. If loan amount is higher than the sales price, PG County collects transfer tax on the excess loan amount in addition to the sales price.
3. $50,000 exempt if principal residence and accompanied by Affidavit. Ree. Tax based assessed value, if higher than sales price.
4. The tax will be 1.0% if the sales price is $1,000,000.00 or less or 1.5% if the sales price is equal to or greater than $1,000,000.00.
5. $22,000 exemption with Affidavit stipulating principal residence for 7 of 12 month period immediately following the conveyance.
6. $22,000 exemption for residential/occupied IF sales price is $249,999 or less; Buyer’s portion of tax is affected unless Seller paying.
7. $22,000 exemption for residential/occupied; exemption is applied to Buyer’s side unless Seller is paying all. If so, Seller can benefit.
8. $25,000 exempt for principal residence; $75,000 exempt for 1st time homebuyer. Buyer cannot receive both exemptions.
9. $30,000 exemption for residentially improved owner occupied with affidavit.
10. 1st $50,000 of sales price is exempt; if contract says county transfer tax is split, then benefit is applied equally to Buyer and Seller.
11. $30,000 exemption for Buyer’s principal residence.
12. 1st $100,000 of consideration exempt if Buyer’s principal residence.
13. Additional county transfer tax if loan amt. Exceeds sales price. In this case, compute the tax based on loan amount, not sales price.
14. Or same as Sate rate (¼%) if first time MD Homebuyer; apply in same fashion as MD transfer tax for 1st time MD Homebuyer.
15. $300 credit for owner occupant.
16. $50,000 exemption on all transactions.
17. $50,000 exempt if owner’s principal residence. First Time MD Homebuyers are exempt from ¼% of the state transfer tax.
18. $50,000 exemption if primary home 7 out of 12 months.
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MARYLAND Transfer / Recordation Charts (As of November 1, 2020) Rate are subject to change. |
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|
Jurisdiction |
Recordation Tax1 |
County Transfer Tax2 |
State Transfer Tax |
|
|
Rate |
Rate |
Rate |
|
Allegheny |
7/1000 |
0.5%3 |
0.5% |
|
Anne Arundel |
7/1000 |
1.0-1.5%4 |
0.5% |
|
Baltimore City |
10/10005 |
1.5%6 |
0.5% |
|
Baltimore County |
5/1000 |
1.5%7 |
0.5% |
|
Calvert County |
10/1000 |
None |
0.5% |
|
Caroline County |
10/1000 |
0.5%8 |
0.5% |
|
Carroll County |
10/1000 |
None |
0.5% |
|
Cecil County |
8.20/1000 |
0.5% |
0.5% |
|
Charles County |
10/1000 |
0.5% |
0.5% |
|
Dorchester County |
10/1000 |
0.75%9 |
0.5% |
|
Frederick County |
14/1000 |
None |
0.5% |
|
Garrett County |
7/1000 |
1.0%10 |
0.5% |
|
Harford County |
6.60/1000 |
1.0%11 |
0.5% |
|
Howard County |
5/1000 |
1.25% |
0.5% |
|
Kent County |
6.60/1000 |
0.5% |
0.5% |
|
Montgomery County |
4.45/500 (on 1st 500K) 13.50/1000 above $500K 6.75/500 ($500,000.01-$600,000) 10.20/500 ($600.000.01-$750,000) 10.78/500 ($750,000.01-$1,000,000) 11.35/500 ($1,000,000.01 and higher) |
1.0% |
0.5% |
|
Prince George's County |
5.50/1000 |
1.4%13 |
0.5% |
|
Queen Anne's County |
9.90/1000 |
0.5%14 |
0.5% |
|
St. Mary's County |
8.00/1000 |
1.0%15 |
0.5% |
|
Somerset County |
6.60/1000 |
None |
0.5% |
|
Talbot County |
12/1000 |
1.0%16 |
0.5% |
|
Washington County |
7.60/1000 |
0.5%17 |
0.5% |
|
Wicomico County |
7/1000 |
None |
0.5% |
|
Worecester County |
6.60/1000 |
0.5%18 |
0.5% |