City of Baltimore - File #: 05-0234

• File #: 05-0234
• Version: 0
• Name: Transfer Tax - Partial Exemption
• Type: Ordinance
• Status: Enacted
• File created: 7/11/2005
• In control: City Council
• Final action: 9/27/2006
• Enactment #: 06-312
• Title: Transfer Tax - Partial Exemption FOR the purpose of establishing a partial exemption from the local transfer tax for certain residential properties; specifying how the exemption is to be allocated between the buyer and seller; providing for a special effective date; and generally relating to the local transfer tax.
• Sponsors: Keiffer Mitchell, Belinda Conaway, James B. Kraft, Kenneth Harris, Nicholas C. D'Adamo, President Young, Agnes Welch, Helen L. Holton, Mary Pat Clarke, Robert Curran, Paula Johnson Branch, Edward Reisinger

Date	Ver.	Action By	Action	Result
9/27/2006	0	Mayor	Signed by Mayor
9/18/2006	0	City Council	Approved and Sent to the Mayor
8/14/2006	0	Taxation and Finance Committee	Recommended Favorably with Amendment
8/14/2006	0	City Council	Advanced to 3rd Rdr., Adopted Comm. Report
10/20/2005	0	Taxation and Finance Committee	Scheduled for a Public Hearing
7/14/2005	0	The City Council	Referred for a Report	Pass
7/14/2005	0	The City Council	Referred for a Report
7/11/2005	0	City Council	Introduced	Pass
7/11/2005	0	The City Council	Assigned	Pass

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 Mitchell


A BILL ENTITLED

AN ORDINANCE concerning
Title
Transfer Tax - Partial Exemption

FOR the purpose of establishing a partial exemption from the local transfer tax for certain residential properties; specifying how the exemption is to be allocated between the buyer and seller; providing for a special effective date; and generally relating to the local transfer tax.
Body
BY adding
Article 28 - Taxes
Section(s) 17-2(d)
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. Transfer Tax

§ 17-2. Tax imposed - in general.

(D) PARTIAL EXEMPTION FOR OWNER-OCCUPIED RESIDENCE.

(1) IN GENERAL.

THE TAX IMPOSED BY THIS SUBTITLE DOES NOT APPLY TO THE FIRST $22,000 OF THE CONSIDERATION PAYABLE ON THE CONVEYANCE OF OWNER-OCCUPIED RESIDENTIAL PROPERTY IF THE INSTRUMENT IN WRITING IS ACCOMPANIED BY A STATEMENT, SIGNED UNDER OATH BY THE BUYER, THAT THE BUYER WILL USE THE PROPERTY AS THE BUYER'S PRINCIPAL RESIDENCE BY ACTUALLY OCCUPYING THE PROPERTY FOR AT LEAST 7 MONTHS OF THE 12-MONTH PERIOD IMMEDIATELY FOLLOWING THE CONVEYANCE.



(2) APPLICATION.

(I) EXCEPT AS SPECIFIED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE BUYER SHALL RECEIVE THE ENTIRE EXEMPTION PROVIDED BY THIS ...