Taxes Paid at Closing

District of Columbia

Recordation Tax

• Transactions $399,999 and under are taxed at a rate of 1.1% of the purchase price.
• Transactions $400,000 and above are taxed at a rate of 1.45% of the purchase price.
• Transactions $647,000 and below, a first-time D.C. homebuyer may be eligible for reduced recordation tax of 0.725%, learn more.

• Example 1: $300,000 x 1.1% = $3,300
  Buyer pays $3,300 recordation tax. Seller pays $3,300 transfer tax. The local government receives a total of $6,600 in transfer & recordation taxes.
• Example 2: $500,000 x 1.45% = $7,250
  Buyer pays $7,250 recordation tax. Seller pays $7,250 transfer tax. The local government receives a total of $14,500 in transfer & recordation taxes.

FURTHER READING: HOW TO QUALIFY FOR DC TAX ABATEMENT

Recording fees (Deeds, Deeds of Trust, etc.)

• $31.50 for a Deed
• $156.50 for a Deed of Trust

Property taxes (paid semi-annually)

Further Reading: Real Estate Tax and Escrow Reserves Explained

• Taxes due 3/31 for the period of 10/1 – 3/31
• Taxes due 9/15 for the period of 4/1 – 9/30

UPDATED 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED.

Maryland

Recordation tax

• State Transfer Tax is 0.5% of purchase price for all counties
• State Recordation or Stamp Tax (see chart below)
• County Transfer Tax (see chart below)

Taxes are customarily split 50/50 between the buyer and seller.

The chart below shows the total amount of taxes, by county, to be paid at settlement based on the purchase price of the property.

Download a copy »

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 $110 for purchase transactions.

Property taxes

Further Reading: Real Estate Tax and Escrow Reserves Explained

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 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED

Virginia

Recordation tax

• Deed Tax = $3.33 per $1000 of purchase price or assessed value (tax will be on the higher value)
• Trust Tax = $3.33 per $1000 of loan amount

Recording fees (Deeds, Deeds of Trust, etc.)

Property taxes

Further Reading: Real Estate Tax and Escrow Reserves Explained

Taxes are paid semi-annually, due dates vary by county. A few counties are outlined below:

UPDATED 5 JUNE 2020 | INFORMATION IS RELIABLE BUT NOT GUARANTEED.