§ 12-103. Rates
West's Annotated Code of MarylandTax-PropertyEffective: October 1, 2018
Effective: October 1, 2018
MD Code, Tax - Property, § 12-103
§ 12-103. Rates
(a)(1) Except as provided in subsection (a-1) of this section, the recordation tax rates under this section are applied to each $500 or fraction of $500 of consideration payable or of the principal amount of the debt secured for an instrument of writing.
(a-1)(1) The recordation tax rates under this section are applied to each $500 or fraction of $500 of consideration paid for the conveyance of a controlling interest in a real property entity as defined in § 12-117 of this title that has developed real property under Section 42 of the Internal Revenue Code, the Low Income Housing Tax Credit Program.
(b)(1) The Mayor and City Council of Baltimore City or the governing body of a county may set, by law, the recordation tax rate in the county.
(2) The Mayor and City Council of Baltimore City or the governing body of a county may provide for an exemption from the tax of a specified amount of the consideration payable on the conveyance of owner-occupied residential property if the buyer intends to use the property as the buyer's principal residence by actually occupying the residence for at least 7 months of a 12-month period.
(c) The recordation tax rate is 55 cents for an instrument of writing for property that:
(d) For articles of merger or articles of consolidation filed with the Department under § 3-107 of the Corporations and Associations Article, or other document filed with the Department which evidences a merger or consolidation of foreign corporations, foreign limited liability companies, foreign partnerships, or foreign limited partnerships, the recordation tax rate is $1.65. The Department shall collect the recordation tax when the articles of merger, articles of consolidation, or other document which evidences a merger or consolidation of foreign corporations, foreign limited liability companies, foreign partnerships, or foreign limited partnerships are filed.
Credits
Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1986, c. 686; Acts 1986, c. 800; Acts 1988, c. 550; Acts 1992, c. 530; Acts 1992, c. 536; Acts 1994, c. 720, § 1, eff. July 1, 1995; Acts 1995, c. 123, § 2, eff. Sept. 1, 1995; Acts 1996, c. 181, § 1, eff. June 1, 1996; Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 2000, c. 61, § 1, eff. April 25, 2000; Acts 2000, c. 679, § 1, eff. July 1, 2001; Acts 2010, c. 52, § 1, eff. Oct. 1, 2010; Acts 2010, c. 589, § 1, eff. May 20, 2010; Acts 2010, c. 590, § 1, eff. May 20, 2010; Acts 2013, c. 531, § 1, eff. July 1, 2013; Acts 2013, c. 532, § 1, eff. July 1, 2013; Acts 2018, c. 720, § 1, eff. Oct. 1, 2018.
Formerly Art. 81, §§ 277, 278.
MD Code, Tax - Property, § 12-103, MD TAX PROPERTY § 12-103
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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