Rate of tax (a) In general. Transfer Tax Rates & Exemptions. Maryland Transfer Tax & Recording Fees. Md. What Is “No Consideration”? Where is the Baltimore City Transfer Tax located? No consideration deed transfers are awesome because you can use them to avoid paying transfer tax and recordation taxes in certain situations. 8. The highest rate imposed is $6.00 in Frederick and Talbot Counties, followed by Baltimore City, Calvert, Caroline, Carroll, Charles, and Dorchester Counties at $5.00. Transfer Tax Rate (of purchase price) Recordation Tax Rate (per $1,000 of purchase price) Anne Arundel County: 1.0%: $7.00: Baltimore City: 1.5%: $10.00: Baltimore County: 1.5%: $5.00: Calvert County: n/a: $10.00: Carroll County: n/a: $10.00: Charles County: 0.5%: $10.00: Frederick County: n/a: $12.00: Harford … 11. Neat! VIII. Free Donuts at Duck Donuts in Nottingham on National Doughnut Day! HARFORD 1.0 $6.60.5* 1st $30K is exempt for owner-occupied property (as to County transfer tax). MARYLAND Transfer / Recordation Charts (As of November 1, 2020) Rate are subject to change. 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. 1300 Haubert Street| Listing Agent – The Pivec Group 443-692-8800, County Transfer Tax: $10.00 (Co. tr. You would think that “no consideration” means transferring a home for $0.00. ; If you know the Block & Lot, enter only the block & lot. The City transfer tax is 1.5% multiplied by the amount of consideration. Exceeds sales price. $50,000 exemption if primary home 7 out of 12 months. Baltimore County may not have raised the income tax in several years, but it has cost residents more in other ways, including assessments. Baltimore County: County Transfer Tax: 1.5% State Transfer Tax: 0.50% State Recordation Tax: $5.00 per $1,000 Baltimore County Tax Exemption: The first $22,000 used to calculate the County Transfer Tax is exempt if the property is the Purchaser's principal residence! Baltimore City Transfer/Recordation Tax Office 200 Holliday Street, Suite 1B Baltimore, MD 21202 (410)396-5122 CHECKLIST Please place all documents in the following order to ensure accurate and timely processing. If so, Seller can benefit. Original Deed - … 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. $50,000 exempt if principal residence and accompanied by Affidavit. 13. $22,000 exemption for residential/occupied IF sales price is $249,999 or less; Buyer’s portion of tax is affected unless Seller paying. 17. Typically, the biggest chunk of change that sellers pay at closing is the loan payoff. Energy Conservation Devices Tax Credit. $300 credit for owner occupant. The exact property tax levied depends on the county in Maryland the property is located in. 7. Therefore, to determine the tax on mortgages and deeds of trust, use the column headed “Recordation Tax” and, only in Prince George’s County, use the column headed “Local Transfer Tax.” 3 The Baltimore City yield tax only applies if the consideration or amount secured exceeds $1 million. -- The agricultural land transfer tax applies at the following rates: (1) for a transfer of 20 acres or more of agricultural land, 5%; $60.00. 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.