§ 13-205. Computation
West's Annotated Code of MarylandTax-PropertyEffective: July 1, 2015
Effective: July 1, 2015
MD Code, Tax - Property, § 13-205
§ 13-205. Computation
(a) If a lease of real property creating a perpetually renewable ground rent is recorded without a transfer of the reversionary estate for full consideration other than the ground rent being recorded at the same time, the transfer tax applies to the redemption sum as determined under § 8-804 of the Real Property Article plus any additional consideration payable. If the lease is recorded at the same time with the transfer of the reversionary estate created for full consideration, the lease is not subject to transfer tax.
(b) Except as provided in § 13-207(a)(14) of this subtitle, for a lease of real property for a term of years not perpetually renewable, the transfer tax applies to:
(c)(1) In this subsection, “document”:
(d)(1) For a transfer under § 13-206 of this subtitle, the transfer tax applies to the value of the real property determined by the Department at the date of finality immediately before the date of transfer.
(2) For a transfer by articles of merger, articles of consolidation, or other documents which evidence a merger or consolidation of foreign corporations, foreign partnerships, foreign limited liability companies, or foreign limited partnerships, the transfer tax applies to the value of the real property determined by the Department at the date of finality immediately before the date of the merger or consolidation.
Credits
Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1985, c. 570, §§ 1, 2; Acts 1986, c. 686; Acts 1988, c. 550; Acts 1989, c. 670; Acts 1992, c. 536; Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 2001, c. 29, § 6, eff. April 10, 2001; Acts 2001, c. 114, § 2, eff. July 1, 2001; Acts 2015, c. 22, § 5.
Formerly Art. 81, §§ 277B, 278A.
MD Code, Tax - Property, § 13-205, MD TAX PROPERTY § 13-205
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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