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§ 13-407. Maximum tax

West's Annotated Code of MarylandTax-PropertyEffective: June 1, 2016

West's Annotated Code of Maryland
Tax-Property
Title 13. Transfer Taxes
Subtitle 4. County Transfer Taxes--in General
Effective: June 1, 2016
MD Code, Tax - Property, § 13-407
§ 13-407. Maximum tax
Currentness
“Total rate of tax” defined
(a) In this section, “total rate of tax” means the rate of tax imposed for the agricultural land transfer tax under § 13-303(a) of this title plus the rate of tax for a county transfer tax imposed under this section.
Rate before July 1, 1979
(b)(1) Unless a greater rate of tax was imposed before July 1, 1979, a county may not impose county transfer tax on a transfer subject to the agricultural land transfer tax under Subtitle 3 of this title at a rate greater than the county rate applicable to the transfer of improved residential property in that county.
(2) If a county has imposed a county transfer tax at a rate that exceeds the rate applicable to the transfer of improved residential property, the total rate of tax that applies to a transfer subject to the agricultural land transfer tax may not exceed 5% plus the rate that applies to improved residential property under the county transfer tax.
(3) If the total rate of tax that applies to a transfer subject to the agricultural land transfer tax exceeds the maximum rate allowed under paragraph (2) of this subsection:
(i) the agricultural land transfer tax is payable at the rate specified in § 13-303(a) of this title; and
(ii) the rate of the county transfer tax shall be reduced as necessary to comply with the 5% limit.
Rate after July 1, 1979
(c) After July 1, 1979, for the transfer of land subject to the agricultural land transfer tax, a county may not:
(1) impose a county transfer tax at a rate above the rate that was in effect on July 1, 1979; or
(2) increase the rate of a county transfer tax above the rate that was in effect on July 1, 1979.

Credits

Added by Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 2016, c. 372, § 1, eff. June 1, 2016; Acts 2016, c. 373, § 1, eff. June 1, 2016.
Formerly Art. 81, § 278F.
MD Code, Tax - Property, § 13-407, MD TAX PROPERTY § 13-407
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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