Taxes Paid at Closing
Select a jurisdiction to review transfer taxes for property sellers paid to the local government at closing for a residential property.
District of Columbia
Transfer 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.
- Example 1: $300,000 x 1.1% = $3,300
Seller pays $3,300 transfer tax. Buyer pays $3,300 recordation tax. The local government receives a total of $6,600 in transfer & recordation taxes. - Example 2: $500,000 x 1.45% = $7,250
Seller pays $7,250 transfer tax. Buyer pays $7,250 recordation tax. The local government receives a total of $14,500 in transfer & recordation taxes.
UPDATED 5 JUNE 2020 | INFORMATION RELIABLE BUT NOT GUARANTEED.
Maryland
Transfer 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.
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
Transfer tax
- Grantor's Tax = $3.00 per $1000 of the sales price
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.
