Taxes

RECORDATION TAXES & RECORDING FEES FOR REFINANCES

Select a jurisdiction to review recordation taxes and recording fees paid to the local government at closing for the refinance of a home loan.

  • District of Columbia

    Recordation Tax

    There is zero transfer / recordation tax for refinances.

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    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 transaction amount for all counties
    • State Recordation or Stamp Tax (see chart below)
    • County Transfer Tax (see chart below)

    Borrower pays on the difference of the principal payoff and the new mortgage.

    • EXAMPLE: Original mortgage was for $500,000 and the principle payoff is now $350,000. The new mortgage is for $400,000
    • $400,000 – $350,000 = $50,000
    • The taxed amount is on $50,000
    • Borrower must affirm under oath:
      1. Borrower is the original mortgagor
      2. Mortgaged property is the principal residence of the original mortgagor
      3. The amount of unpaid principal of the original mortgage or deed of trust that is being refinanced.
    • Borrower pays on the entire loan amount for investment properties.

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

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      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

    • State and County Trust Tax = $3.33 per $1000 of the new Deed of Trust loan amount
    • $2.00 per $1000 is charged on “new money” (difference of increase in loan amount) if payoff lender and new originating lender are the same.
      • EXAMPLE: Original mortgage was for $500,000 and the principle payoff is now $350,000. The new mortgage is for $400,000
      • $400,000 – $350,000 = $50,000
      • The taxed amount is on $50,000

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    Use Close It! to quickly calculate how much cash will traverse the closing table.

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

    $33 to record a deed and $66 to record a mortgage, regardless of the number of pages in the documents. This generally results in a total recording charge of approximately $99.

    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:

    Arlington

    • First Half due 6/5
    • Second Half due 10/5
    • 703-228-3090

    City of Alexandria

    • First Half due 6/15
    • Second Half due 11/15
    • 703-838-4777

    Fairfax County

    • First Half due 7/28
    • Second Half due 12/5
    • 703-222-8234

    Prince William

    • First Half due 7/28
    • Second Half due 12/5
    • 703-792-6710

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

Federal Title & Escrow Company

For nearly 25 years, our independently owned title company has leveraged technology to streamline the closing process, providing top-notch service at a competitive price for buyers, sellers, agents and lenders across the District of Columbia, Maryland and Virginia.

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Closing Costs Explained...

Closing costs include taxes, lender fees and title fees that a homebuyer pays at settlement. Watch this video to prepare for the process.

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