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.