|
Useful Tax Rate Table and Title Insurance Rate Information
2006 MD TRANSFER AND RECORDATION TAX RATES
| COUNTY |
LOCAL
TRANSFER
TAX RATE
(%) |
DOCUMENTARY
STAMP RATE/
$1000.00
(ROUND UP TO
NEAREST $500.00) |
STATE
TRANSFER
TAX RATE
(%) 1 |
ALLEGANY
|
0.5 2 |
$6.00
|
0.5 |
ANNE ARUNDEL
|
1.0
|
$7.00
|
0.5 |
BALTIMORE CITY
|
1.5
|
$10.00 3 |
0.5 |
BALTIMORE COUNTY
|
1.5 4
|
$5.00
|
0.5 |
CALVERT
|
0.0
|
$10.00
|
0.5 |
CAROLINE
|
0.5 5
|
$10.00
|
0.5 |
CARROLL
|
0.0
|
$10.00
|
0.5 |
CECIL
|
0.0 6
|
$8.20
|
0.5 |
CHARLES
|
0.0
|
$10.00
|
0.5 |
DORCHESTER
|
0.75 7
|
$10.00
|
0.5 |
FREDERICK
|
0.0
|
$12.00
|
0.5 |
GARRETT
|
1.0 8
|
$7.00
|
0.5 |
HARFORD
|
1.0 9
|
$6.60
|
0.5 |
HOWARD
|
1.0
|
$5.00
|
0.5 |
KENT
|
0.5
|
$6.60
|
0.5 |
MONTGOMERY
|
1.0 10
|
$6.90 11 |
0.5 |
PRINCE GEORGE’S
|
1.4 12
|
$5.00
|
0.5 |
QUEEN ANNE’S
|
0.5 13
|
$6.60
|
0.5 |
ST. MARY’S
|
1.0 14
|
$8.00
|
0.5 |
SOMERSET
|
0.0
|
$6.60
|
0.5 |
TALBOT
|
1.0 15
|
$6.60
|
0.5 |
WASHINGTON
|
0.5 16
|
$7.60
|
0.5 |
WICOMICO
|
0.0
|
$7.00
|
0.5 |
| WORCHESTER |
0.5 17 |
$6.60 |
0.5 |
1. If 1st time homebuyer purchasing a principal residence,
state xfer tax is reduced to .25% payable by the SELLER
2. If owner-occupied residential property, first $30,000
exempt from local transfer tax
3. If owner-occupied for 7 out of 12 months, first $22,000
exempt from recordation tax (documentary stamps)
4. If owner-occupied residential property, $330.00 discounted
from total local transfer tax
5. If owner-occupied residential property, first $25,000
exempt from local transfer tax; if owner-occupied residential
property AND 1st time homebuyer, first $75,000 exempt from local transfer tax
6. $3.00 for agricultural assessment; $10.00 transfer fee for deeds
7. If owner-occupied residential property, first $30,000 exempt from local transfer
tax
8. First $50,000 exempt from transfer tax
9. If owner-occupied residential property, first $30,000 exempt from local transfer
tax
10. 1% for transactions < $70k or commercial; .25% for transaction under $40k;
.50% for transactions $40k-$70k
11. If owner-occupied principal residence, first $50,000 exempt from recordation
tax (documentary stamps). The first $500k of consideration is taxed at $6.90/$1000 (unless exemption applies then the first $450k of consideration) and the remainder is taxed at $10.00/$1000.
12. Local transfer tax applies to Deeds of Trust/Mortgages- NOT PURCHASE MONEY
- call Office of Finance
13. If 1st time homebuyer, local transfer tax reduced to .25%
14. If owner-occupied principal residence for 7 out of 12 months, first $30,000
exempt from local transfer tax
15. If owner-occupied principal residence for 7 out of 12 months, first $50,000
exempt from local transfer tax
16. First $50,000 exempt from transfer tax; if 1st time homebuyer, .25% local
transfer tax payable by the SELLER
17. If owner-occupied principal residence for 7 out of 12 months, first $50,000
exempt from local transfer tax
Stewart Title Guaranty Company Maryland Title Insurance Rates
ALTA Homeowner’s Residential Owner’s
Policy
Up to $250,000 of liability written= $4.20 per thousand
Over $250,000 and up to $500,000, add= $3.60 per thousand
+ $1050.00
Over $500,000 and up to $1,000,000, add= $3.00 per thousand
+ $1950.00
Over $1,000,000 and up to $5,000,000, add= $2.40 per thousand
+ $3450.00
Over $5,000,000 and up to $15,000,000, add= $2.10 per thousand
+ $15450.00
ALTA Homeowner’s Residential Loan Policy*
Up to $250,000 of liability written= $3.00 per thousand
Over $250,000 and up to $500,000, add= $2.40 per thousand
+ $750.00
Over $500,000 and up to $1,000,000, add= $2.10 per thousand
+ $1350.00
Over $1,000,000 and up to $5,000,000, add= $1.80 per thousand
+ $2400.00
Over $5,000,000 and up to $15,000,000, add= $1.50 per thousand
+ $ 11400.00
*If issued simultaneously with an owner’s policy the
charge is $35.00.
Contact our knowledgeable staff for further information
on title insurance rate calculations for your settlement
transaction. |
