First-time homebuyers in Maryland exempt from transfer taxes

By January 3, 2010 Uncategorized

Is there an advantage of being a first-time homebuyer in Maryland?

The answer is “Yes.” If you are a first-time homebuyer in the State of Maryland, then you are exempt from paying your portion of the State Transfer Tax (.25% of the Sales Price).

Remember that ALL buyers must be first-time homebuyers in order to qualify for this exemption (e.g., if husband owned a Maryland home prior to marriage, and now both husband and wife are purchasing a Maryland property, then the exemption would NOT apply). Federal Title & Escrow Company provides all paperwork for this exemption. For more details, ask your Realtor or contact us.

Read more about property taxes in Maryland and the D.C. Metro Area.

Leave a Reply