Baltimore City Council
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File #: 22-0259    Version: 0 Name: Recordation and Transfer Taxes - Yield Excise Tax - Transactions Assessed
Type: Ordinance Status: In Committee
File created: 8/15/2022 In control: Ways and Means
On agenda: Final action:
Enactment #:
Title: Recordation and Transfer Taxes - Yield Excise Tax - Transactions Assessed For the purpose of amending which transactions are assessed the Yield Tax; and providing for a special effective date.
Sponsors: Odette Ramos
Indexes: Recordation, Taxes, Transfer
Attachments: 1. 22-0259~1st Reader, 2. Law 22-0259

Explanation: Capitals indicate matter added to existing law.

[Brackets] indicate matter deleted from existing law.

 

                     * Warning: This is an unofficial, introductory copy of the bill.

                     The official copy considered by the City Council is the first reader copy.

                     Introductory*

 

                     City of Baltimore

                     Council Bill          

                                                                                                                                                           

Introduced by: Councilmember Ramos

                                                                                                                                                           

 

                     A Bill Entitled

 

An Ordinance concerning

title

Recordation and Transfer Taxes - Yield Excise Tax - Transactions Assessed

For the purpose of amending which transactions are assessed the Yield Tax; and providing for a special effective date.

body

 

By repealing and re-ordaining, with amendments

Article 28 - Taxes

Section 17.1-2(a)

Baltimore City Code

(Edition 2000)

 

Section 1.  Be it ordained by the Mayor and City Council of Baltimore, That the Laws of Baltimore City read as follows:

 

                     Baltimore City Code

 

                     Article 28.  Taxes

 

                     Subtitle 17.1.  Recordation and Transfer Taxes - Yield Excise Tax

 

§ 17.1-2.  Transactions assessed; Tax rate.

 

(a)  Transactions assessed.

 

The Yield Tax shall be assessed on those transactions whose value exceeds [$1 million] $750,000.00, as determined by Subtitles 16 and 17 of this article for the purposes of calculating the recordation and transfer taxes respectively.

 

Section 2.  And be it further ordained, That this Ordinance takes effect on the date it is enacted.