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 Henry
A Bill Entitled
An Ordinance concerning
title
Recordation and Transfer Taxes - Increases - Dedicating Portion of Tax Proceeds
For the purpose of raising the recordation tax from $5 to $6 for each $500 or fractional part of $500 of the actual consideration paid; raising the transfer tax from 1½% to 1¾% of the taxable base, as defined; dedicating a portion of the proceeds from these taxes to the continuing, nonlapsing fund created by City Charter Article I, § 14 {“Affordable Housing Trust Fund”}; and generally relating to the City’s recordation and transfer taxes.
body
By repealing and reordaining, with amendments
Article 28 - Taxes
Sections 16-1 and 17-2(a)(1)
Baltimore City Code
(Edition 2000)
By adding
Article 28 - Taxes
Sections 16-3 and 17-15
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,...
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