Click on a jurisdiction below for a break down of taxes associated with the purchase and sale of a residential property.
FURTHER READING: HOW TO QUALIFY FOR DC TAX ABATEMENT
Property taxes are paid semi-annually:
If the borrower is a first-time Maryland homebuyer who will occupy the property as a principal residence, then the borrower is exempt from state transfer tax. All purchasers must be first-time homebuyers in Maryland to qualify.
This generally results in a total recording charge of approximately $120 for purchase transactions.
The chart below shows the total amount of taxes, by county, to be paid at settlement based on the purchase price of the property. 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:
For non-principal residences and investment properties:
Taxes are paid semi-annually, due dates vary by county. A few counties are outlined below:
City of Alexandria
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