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: The Council President
At the request of: The Administration (Law Department)
A BILL ENTITLED
AN ORDINANCE concerning
title
Recordation Tax - Stepped Rates
FOR the purpose of establishing stepped rates for calculating the recordation tax on instruments conveying title to property; correcting, clarifying, and conforming related provisions; providing for a special effective date; and generally relating to recordation tax rates.
body
BY authority of
Article - Tax-Property
Section(s) 12-103(b)
Annotated Code of Maryland
BY repealing and reordaining, with amendments
Article 28 - Taxes
Section(s) 16-1
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
§ 161. Tax imposed.
(A) IN GENERAL.
Pursuant to State TaxProperty Article § 12103(b), the rate of tax applicable to instruments recorded with the Clerk of the Circuit Court for Baltimore City is[:] AS PROVIDED IN THIS SECTION.
[(1) in the case of instruments conveying title to property, $5 for each $500 or fractional part of $500 of the actual consideration paid or to be paid; and]
(B) INSTRUMENTS SECURING DEBT.
[(2) in the case of instruments] FOR AN INSTRUMENT securing a debt, THE RECORDATION TAX R...
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