Transfer tax (a.k.a. recordation tax) is calculated by purchase price
- State Transfer Tax is 0.5% to purchasers for all counties
- State Recordation or Stamp Tax (see chart below)
- County Transfer Tax (see chart below)
IF THE BORROWER IS A FIRST-TIME MARYLAND HOMEBUYER WHO WILL OCCUPY THE PROPERTY AS PRINCIPAL RESIDENCE, THEN THE BORROWER IS EXEMPT FROM STATE TRANSFER TAX. ALL PURCHASERS MUST BE FIRST-TIME HOMEBUYERS IN MARYLAND TO QUALIFY.
Recording fees (Deeds, Deeds of Trust, etc.)
- $60 for each Deed or Deed of Trust
- $50 per release
THIS GENERALLY RESULTS IN A TOTAL RECORDING CHARGE OF APPROXIMATELY $120 FOR PURCHASE TRANSACTIONS.
Transfer & Recordation tax table
The chart below shows the total amount of taxes, by county, to be paid at settlement based on the purchase price of the property. These taxes are customarily split 50/50 between the buyer and seller. For fast, accurate tax calculations, try our app Close It! for iOS and Web.
Principal residences are paid semi-annually, and non-principal residences and investment properties are paid annually.
For principal residences:
- Taxes due on 9/30 for the period of 7/1 – 12/31
- Taxes due on 12/31 for the period of 1/1 – 6/30
For non-principal residences and investment properties:
- Taxes due on 9/30 for the period 7/1 – 6/30
UPDATED 9 FEBRUARY 2017 | INFORMATION IS RELIABLE BUT NOT GUARANTEED.