Choice Real Estate®'s Blog: Maryland Closing Costs

Recordation taxes, Transfer taxes and other closing costs to expect for each county in the state of Maryland. Property taxes are collected on a semi-annual basis. Each county has it's own fees for what it charges on a Maryland home purchase for state recordation and county transfer taxes at settlement (see below). The state transfer tax is always the same. The buyer is exempt from the state transfer tax if they are a first time homebuyer in the state of Maryland, and the seller pays the buyer's portion of the state transfer tax. If refinancing, you will be charged the state recordation tax on any new money (not just "cash out") and on the entire new loan if an investment property.


Howard County Closing Costs | Home Loan Costs In Maryland

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Howard County: 301-694-1111
Recordation Tax              $5.00        per thousand
Transfer Tax                     1.0%         (.5% County + .5% State)
Property Tax                      $1.176       per hundred assessed value
                                                           ($1.044 County + $.132 State)
Water and Sewer               $.08 Fire – each district different, lowest $.088, highest $.108
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Posted: 9 months ago, Comments: 0, Average Rating: Views: 382

Frederick County, Maryland Closing Costs

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FREDERICK COUNTY: 301-694-1111
Recordation Tax              $12.00       per thousand
Transfer Tax                     .5%         (No County + .5% State)
Property Tax                     $1.132      per hundred assessed value
                                                             ($1.00 County + $.132 State)
Fire Tax                                              ($.065 to $.135), call tax office.

Direct any questions to the Clerk of the Court, 301-600-1976.  If refinancing, you will be charged the state recordation tax on any new money (not just "cash out") and on the entire new loan if an investment… Read Full Post

Posted: 10 months ago, Comments: 0, Average Rating: Views: 502

Prince George's County MD Closing Costs

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Prince George's county govt. phone# 301-883-7300

Recordation Tax              $4.40       per thousand
Transfer Tax                     1.9%       (1.4% County + .5% State)
- Recordation Tax also charged on refinances and 2nd trusts if property is not owner occupied. 
- Recordation Tax also charged if owner occupied but 12 months has not elapsed since property was purchased.  The tax will be based on the difference between the original loan amount and the new loan amount (called "new money").

Property Tax                     $1.092      per hundred assessed value
                                                              (.96 County + $.132 State)
MNCPPC                          $.244         Storm Water $.054, WSTC $.026

View property… Read Full Post

Posted: 11 months ago, Comments: 0, Average Rating: Views: 412

Montgomery County, MD Closing Costs

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Montgomery County Maryland govt. phone # 240-777-8950

Recordation Tax              $6.90       per thousand
Transfer Tax                     1.5%      (1.0% County + .50% State)
First $50,000 used to calculate Recordation Tax is exempt if property is owner occupied
Property Tax                     $0.883     per hundred assessed value
                                                         ($.751 County + $.132 State)
View Montgomery County property tax records online.Read Full Post

Posted: 11 months ago, Comments: 0, Average Rating: Views: 379
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