Section 13-405 – Tax on Corporate, Limited Liability Company, or Partnership Transfers
(a) Except as provided in subsection (c) of this section, county transfer tax applies to conveyances that transfer the real property of a corporation to its stockholders, a limited liability company to its members, or a partnership to its partners on: (1) liquidation; (2) dissolution; or (3) termination. (b) For a conveyance that is taxable under this section, county transfer […]
Section 13-209 – Distribution of Revenue
(a) (1) Before any other distribution under this section, in any fiscal year that bonds secured by a pledge of the State transfer tax are outstanding, the revenue from the transfer tax shall be used to pay, as and when due, the principal of and interest on the bonds. (2) The Department shall deduct the cost of administering […]
Section 13-406 – Apportionment of Tax
In a transfer of property located in 2 or more counties, the county transfer tax of the counties where the property that is transferred is located is apportioned as required under § 12-110(b) of this article.
Section 13-301 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Agricultural land” means real property that is or was assessed on the basis of farm or agricultural use under § 8–209 of this article. (c) (1) “Agricultural land transfer tax” means the tax imposed under § 13–302 of this subtitle. (2) “Agricultural land transfer tax” does not include […]
Section 13-407 – Limitations on County Transfer Taxes
(a) In this section, “total rate of tax” means the rate of tax imposed for the agricultural land transfer tax under § 13–303(a) of this title plus the rate of tax for a county transfer tax imposed under this section. (b) (1) Unless a greater rate of tax was imposed before July 1, 1979, a county may not […]
Section 13-302 – Imposition of Tax; Payment of Tax
(a) Except as otherwise provided in § 13-305 of this subtitle, agricultural land transfer tax is imposed on an instrument of writing that transfers title to agricultural land. (b) Agricultural land transfer tax is payable in addition to any other transfer tax imposed under this title. (c) An instrument of writing subject to agricultural land transfer tax may […]
Section 13-408 – Exemption From County Transfer Tax
Any county having a county transfer tax may provide for an exemption from the tax of a specified amount of the consideration payable on the conveyance of owner-occupied residential property if the buyer intends to use the property as the buyer’s principal residence by actually occupying the residence for at least 7 months of a […]
Section 13-303 – Rate of Tax
(a) The agricultural land transfer tax applies at the following rates: (1) for a transfer of 20 acres or more of agricultural land, 5%; (2) except as provided in item (3) of this subsection, for a transfer of less than 20 acres of agricultural land assessed for agricultural use or as unimproved agricultural land, 4%; or (3) for a […]
Section 13-304 – Calculation of Tax; Improvements Valued
(a) The agricultural land transfer tax is imposed on the consideration payable for the instrument of writing less: (1) the total value of any improvements on the property; and (2) the total value of any land not subject to the agricultural land transfer tax. (b) (1) If an instrument of writing transfers agricultural land with an improvement that has not […]
Section 13-305 – Exemptions From Tax
(a) If the amount of agricultural land transferred is not greater than the applicable residential minimum zoning size in effect at the time of transfer, an instrument of writing for the residential use of the owner of the agricultural land or the owner’s immediate family is not subject to the agricultural land transfer tax. (b) (1) Except as […]