City of Baltimore - File #: 16-0754

• File #: 16-0754
• Version: 0
• Name: Recordation and Transfer Taxes - Increases
• Type: Ordinance
• Status: Failed - End of Term
• File created: 9/12/2016
• In control: Judiciary and Legislative Investigations
• Final action: 12/5/2016
• Title: Recordation and Transfer Taxes - Increases For the purpose of raising the recordation tax from $5 for each $500 or fractional part of $500 of the actual consideration paid, to $6 for each $500 or fractional part of $500 of the actual consideration paid; raising the transfer tax from 1½ % to 1¾ %; and generally relating to the City’s recordation and transfer taxes.
• Sponsors: Bill Henry, Carl Stokes, Mary Pat Clarke
• Indexes: Increases, Recordation, Taxes, Transfer

Date	Ver.	Action By	Action	Result
9/15/2016	0	The City Council	Refer to Dept. of Real Estate
9/15/2016	0	The City Council	Refer to Dept. of Finance
9/15/2016	0	The City Council	Refer to City Solicitor
9/12/2016	0	City Council	Assigned
9/12/2016	0	City Council	Introduced

Introduced by: Councilmember Henry



A Bill Entitled

An Ordinance concerning
title
Recordation and Transfer Taxes - Increases
For the purpose of raising the recordation tax from $5 for each $500 or fractional part of $500 of the actual consideration paid, to $6 for each $500 or fractional part of $500 of the actual consideration paid; raising the transfer tax from 1½ % to 1¾ %; and generally relating to the City’s recordation and transfer taxes.
body

By repealing and reordaining, with amendments
Article 28 - Taxes
Section(s) 16-1 and 17-2(a)(1)
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 16. Recordation Tax

§ 16-1. Tax imposed.

Pursuant to State Tax-Property Article § 12-103(b), the rate of tax applicable to instruments recorded with the Clerk of the Circuit Court for Baltimore City is:

(1) in the case of instruments conveying title to property, [$5] $6 for each $500 or fractional part of $500 of the actual consideration paid or to be paid; and

(2) in the case of instruments securing a debt, [$5] $6 for each $500 or fractional part of $500 of the principal amount of the debt secured.


Subtitle 17. Transfer Tax

§ 17-2. Tax imposed - In general.

(a) In general.

(1) A tax is hereby levied and imposed upon the transfer of any estate of inheritance or freehold, of any declaration or limitation of use, or any estate above 7 years, in Baltimore City, at the rate of [1½%] 1 ¾ % of the taxable basis thereof, as hereinafter defined.

Section 2. And be it further ordained, That the c...