Re/Max Home Settlement Centre, LLC
3300 Olney Sandy Spring Road
Olney Md. 20832
(301)-591-3444
 Home Settlement Centre
is dedicated to helping you with all of your needs
in closing the new purchase of your home. Our Settlement attorney Bob Hasslinger, is ready to make your closing experience pleasant and smooth. |
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Settlement
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Title Insurance Rates Transfer Tax Rates |
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Home settlement Centre is ready to meet your needs at all times for questions, comments, or to set up an appointment please email or call Lynn Bligh at (301)-591-3444, email: lynnebligh@mris.com. |
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Maryland Real Estate Transfer Taxes |
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Property Transfer Taxes |
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| COUNTY | PROPERTY TAX RATE1 | LOCAL TRANSFER TAX RATE2 | DOCUMENTARY STAMP RATE3 |
| Allegheny | $1.133 | 0.2% (note 4) | $6.00 |
| Anne Arundel | $1.073 | 1% | $7.00 |
| Baltimore | $1.247 | 1.5% (note 5) | $5.00 |
| Baltimore City | $2.460 | 1.5% | $10.00 (note 5) |
| Calvert | $1.024 | none | $10.00 |
| Caroline | $1.084 | 0.5% (note 6) | $10.00 |
| Carroll | $1.180 | none | $10.00 |
| Cecil | $1.112 | none (note 7) | $6.60 |
| Charles | $1.158 | none | $10.00 |
| Dorchester | $1.062 | .75% (note 9) | $10.00 |
| Frederick | $1.132 | none | $10.00 |
| Garrett | $1.168 | 1% (note 8) | $7.00 |
| Harford | $1.224 | 1% (note 9) | $6.60 |
| Howard | $1.176 | 1% | $5.00 |
| Kent | $1.144 | 0.50% | $6.60 |
| Montgomery | $0.866 | 1% | $6.90 (note 14) |
| Prince George's | $1.092 | 1.4% (note 10) | $4.40 |
| Queen Anne's | $1.058 | 0.5% (note 15) | $6.60 |
| St. Mary's | $1.010 | 1% | $8.00 |
| Somerset | $1.142 | none | $6.60 |
| Talbot | $0.672 | 1% (note 11) | $6.60 |
| Washington | $1.080 | 0.50% | $7.60 |
| Wicomico | $1.157 | none | $7.00 |
| Worcester | $0.862 | 0.5% (note 12) | $6.60 |
| STATE TRANSFER TAX of .5% (note 2) also applies to all counties (note 13) | |||
| 1 - Per $100 of value (includes state real property tax of ..084/$100) Note: Tax rate may vary in cities or other incorporated areas. | |||
| 2 - % of actual consideration/purchase price | |||
| 3 - Per $1000 of the higher of purchase price or loan amount rounded up to the nearest $500 | |||
| 4 - First $30,000 exempt for owner occupied residential properties | |||
| 5 - First $22,000 exempt for owner occupied residential properties | |||
| 6 - $25,000 exemption for principal residence, $75,000 exemption for first time home buyer | |||
| 7 - $10.00 transfer fee for deeds, $3.00 if agricultural transfer tax paid | |||
| 8 - First $50,000 exempt from transfer tax | |||
| 9 - First $30,000 exempt from transfer tax if owner occupied | |||
| 10 - For refinances, call office of finance for local transfer and recordation tax | |||
| 11 - First $50,000 exempt for for owner occupied | |||
| 12 - First $50,000 exempt for principal residence (owner occupied at least 7 months per year) | |||
| 13-1st time homebuyers buying a principal residence, st. trans tax is reduced to .25% which must be paid by the seller. | |||
| 14 - Exemption for owner occupied housing on the 1st $50,000 | |||
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15 - 1st
time homebuyers buying a principal residence, Local
transfer tax is reduced to a .25%
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| 3300 Olney-Sandy Spring Road, Olney, MD 20832 | |||
| Tel: 301-591-3444, Fax: 301-260-0014 | |||
| Last update: June 29, 2005 | |||