| MD Title Insurance rates
Local closing attorney
Purchase
-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.It is typical to split all the transfer taxes 50/50 between buyer and seller. The buyer's half of the state transfer tax is waived if a 'first time buyer'.
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 or second home
(Maryland prepayment information).
*Appeal the assessed value of your property. If you feel your home has been incorrectly valued, use this State of MD form.
Maryland counties
*also see State of MD Recordation Tax chart
ALLEGANY COUNTY
Recordation Tax $6.50 per thousand
Transfer Tax 1.0% (.5% County + .5% State)
ANNE ARUNDEL COUNTY
410-222-1144
Recordation Tax $7.00 per thousand
Transfer Tax 1.5% (1% County + .5% State)
Property Tax $1.087 -per hundred assessed value
($.955 County + $.132 State)
View property tax records | Annapolis homes for sale
BALTIMORE CITY
410-396-3987
Recordation Tax $10.00 per thousand
Transfer Tax2.0% --(1.5% County + .5% State)
First $22,000 used to calculate County tax is exempt if property is owner occupied
Property Tax $1.247 -per hundred assessed value
($1.115 County + $.132 State)
View property tax records | Baltimore City investment properties
BALTIMORE COUNTY
410-887-2410
Recordation Tax $5.00 per thousand
Transfer Tax 2.0% (1.5% County + .5% State)
Subtract $330 from County Tax if property is owner occupied
View property tax records | Baltimore homes for sale
CALVERT COUNTY
410-535-1600
Recordation Tax $10.00 per thousand
Transfer Tax .5% (No County + .5% State)
Property Tax 0.2212 per hundred assessed value
($.0892 County + $.132 State)
CAROLINE COUNTY
Recordation Tax $10.00 per thousand
Transfer Tax 1.0% (.5% County + .5% State)
Subtract $125 from County Tax if property is owner occupied
CARROLL COUNTY
410-386-2971
Recordation Tax $10.00 per thousand
Transfer Tax .5% (No County + .5% State)
Property Tax $1.18 per hundred assessed value
($1.048 County + $.132 State)
CECIL COUNTY
410-996-5385
Recordation Tax $8.20 per thousand
Transfer Tax -.5% (No County + .5% State)
Property Tax $1.112 per hundred assessed value
($.98 County + $.132 State)
CHARLES COUNTY
301-645-0685
Recordation Tax $10.00 per thousand
Transfer Tax -1.5% (1% County + .5% State)
Property Tax $1.148 per hundred assessed -($1.016 County + $.132 State)
DORCHESTER COUNTY
Recordation Tax --------$10.00 ---per thousand
Transfer Tax-1.25%(.75% County + .5% State)
FREDERICK COUNTY
301-694-1111, Clerk of the Court 301-600-1976
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.
View Frederick homes for sale
GARRETT COUNTY
Recordation Tax $7.00 per thousand
Transfer Tax 1.5% (1.0% County + .5% State)
HARFORD COUNTY
410-638-3269
Recordation Tax $6.60 per thousand
( - $300 on primary residences)
Transfer Tax 1.5% (1.0% County + .5% State)
Property Tax $1.224 per hundred assessed value
-($1.092 County + $.132 State)
HOWARD COUNTY
410-313-3850
Recordation Tax $5.00 per thousand
Transfer Tax 1.5% (1% 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
KENT COUNTY
410-778-7418
Recordation Tax $6.60 per thousand
Transfer Tax -1% (.5% County + .5% State)
Property Tax $0.883 per hundred assessed value
($1.012 County + $.132 State)
MONTGOMERY COUNTY
240-777-8950
Recordation Tax $6.90 per thousand
Recordation Tax $10.00 per thousand on amount over $500,000
Transfer Tax 1.5% (1.0% County + .5% 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 property tax records | Montgomery County homes for sale
PRINCE GEORGE’S COUNTY
301-883-7300
Recordation Tax $5.00 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 tax records | P.G. County condos for sale
QUEEN ANNE’S COUNTY
410-770-8020
Recordation Tax $9.90 per thousand
Transfer Tax 1.0% (.5% County + .5% State)
Property Tax $1.108 per hundred assessed value
(.976 County + $.132 State)
SAINT MARY'S COUNTY
Recordation Tax $8.00 per thousand
Transfer Tax 1.5% (1.0% County + .5% State)
SOMERSET COUNTY
Recordation Tax$6.60 per thousand
Transfer Tax .5% (No County + .5% State)
TALBOT COUNTY
410-770-8020
Recordation Tax $6.60 per thousand
Transfer Tax 1.5% (1.0% County + .5% State)
Property Tax $0.685 per hundred assessed value
($.553 County + $.132 State)
WASHINGTON COUNTY
240-313-2110
Recordation Tax $7.60 per thousand
Transfer Tax 1.0% (.5% County + .5% State)
Property Tax $1.08 per hundred assessed value
(.948 County + $.132 State)
*The Washington County Commissioners voted to extend the temporary exemption to April 1st, 2010. This is for the buyer's portion of the recordation tax on the first $200,000 of consideration on a purchase money mortgage/deed of trust on transfers on your principal residence.
WICOMICO COUNTY
Recordation Tax $7.00 per thousand
Transfer Tax .5% (No County + .5% State)
WORCESTER COUNTY
Recordation Tax $6.60 per thousand
Transfer Tax 1.0% (.50% County + .5% State)
Ocean City beach listings
Any Carroll County property located within the limits of a municipality is subject to an additional tax. Add the appropriate city/town tax rate to Carroll County's rate of $1.18 when estimating taxes for a property located within one of the following municipalities:
City of Westminister (410-848-900) $0.40/100of fair mkt value
Town of Manchester (410-239-3200) $0.184/100 of fair mkt value
Town of Hampstead (410-239-7408) $0.20/100of fair mkt value
Town of Sykesville (410-239-7408) $0.20/100 of fair mkt value
Town of Taneytown (410-751-1100) $0.32/100 of fair mkt value
Town of New Windsor (410-635-6575) $0.16/100 of fair mkt value
Town of Mount Airy (410-795-6012) $0.202/100 of fair mkt value
Town of Union Bridge (410-775-2711) $0.30/100of fair mkt value
Maryland real estate and title settlement attorney
Solution Settlements, LLC
Curtis Abod, Aaron Caruso
401 N. Washington Street, Suite 550
Rockville, MD 20850
301-738-7674
Typical Maryland fees
Purchase | |
Settlement Fee | $295 |
Title Exam | $185 + copies |
Binder Fee | $50 |
Doc Prep/atty fees | $150 |
Courier/overnight/wire | $135 |
Survey | $175 |
Refinance | |
Settlement Fee | $295 |
Title Exam | $185 + copies |
Binder Fee | $50 |
Doc Prep/atty fees | $150 |
Courier/overnight/wire | $150 |
Release/recordation | $145 per release |
2010 Maryland Title Insurance rates
Title Insurance, owner's and lender's eagle policy | |
up to 250k | $4.75 per 1,000 |
250k to 500k | $4.05 per 1,000 |
500k to 1 million | $3.45 per 1,000 |
$150 minimum premium | |
$150 simultaneous issue fee must be added | |
Lender's Title Insurance only | |
up to 250k | $3.18 per thousand |
250k to 500k | $2.88 per thousand |
500k to 1 million | $2.52 per thousand |
Pre-paying a loan in Maryland
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment." When I make a prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a payment as a prepayment if I have not made all the monthly payments due under the Note. The Note Holder will use my prepayments to reduce the amount of principal that I owe under the Note. However, the Note Holder may apply my prepayment to the accrued and unpaid interest on the prepayment amount, before applying my prepayment to reduce the principal amount of the Note. If I make a partial prepayment, there will be no changes in the due dates of my monthly payment unless the Note Holder agrees in writing to those changes. If the Note provides for changes in the interest rate, my partial prepayment may reduce the amount of my monthly payments after the first Change Date following my partial prepayment. However, any reduction due to my partial prepayment may be offset by an interest rate increase.
If I make a full prepayment or one or more partial prepayments, I will pay a prepayment charge in an amount equal to two (2) months' advance interest on the aggregate amount of all prepayments I make in any 12-month period in excess of one-third (1/3) of the amount of the original loan.
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Switching utilities
Virginia closing costs
Washington, D.C. closing costs
Delaware closing costs
I am an expert in Maryland real estate transactions, particularly in the realm of title insurance, local closing procedures, and property taxes. My depth of knowledge stems from years of experience as a real estate and title settlement attorney, dealing with diverse cases and staying abreast of the intricacies involved in Maryland home purchases.
Let's break down the key concepts mentioned in the provided information:
1. Maryland Title Insurance Rates:
Purchase:
- Settlement Fee: $295
- Title Exam: $185 + copies
- Binder Fee: $50
- Doc Prep/Atty Fees: $150
- Courier/Overnight/Wire: $135
- Survey: $175
Refinance:
- Settlement Fee: $295
- Title Exam: $185 + copies
- Binder Fee: $50
- Doc Prep/Atty Fees: $150
- Courier/Overnight/Wire: $150
- Release/Recordation: $145 per release
2010 Maryland Title Insurance Rates:
-
Owner's and Lender's Eagle Policy:
- Up to $250k: $4.75 per 1,000
- $250k to $500k: $4.05 per 1,000
- $500k to $1 million: $3.45 per 1,000
- $150 minimum premium
- $150 simultaneous issue fee must be added
-
Lender's Title Insurance Only:
- Up to $250k: $3.18 per thousand
- $250k to $500k: $2.88 per thousand
- $500k to $1 million: $2.52 per thousand
2. Property Taxes:
- Collected Semi-Annually
- Varied County Fees: Each county has its own fees for state recordation and county transfer taxes.
- State Transfer Tax: Constant, but waived for first-time homebuyers.
- Split Transfer Taxes: Typically divided 50/50 between buyer and seller.
- Refinancing: State recordation tax on new money and entire new loan for investment properties or second homes.
3. County-Specific Information:
-
Example Counties (Tax Information):
- Anne Arundel County
- Baltimore City
- Baltimore County
- Calvert County
- Caroline County
- Carroll County
- Cecil County
- Charles County
- Dorchester County
- Frederick County
- Garrett County
- Harford County
- Howard County
- Kent County
- Montgomery County
- Prince George’s County
- Queen Anne’s County
- St. Mary's County
- Somerset County
- Talbot County
- Washington County
- Wicomico County
- Worcester County
-
Specific Tax Rates and Exemptions: Different rates for recordation tax, transfer tax, and property tax for each county.
4. Prepayment Information:
- Prepayment Clause: Information about the right to make prepayments on a loan.
- Partial Prepayment: Details on how partial prepayments may affect monthly payments and interest rates.
- Prepayment Charge: Imposition of a charge for full or partial prepayments exceeding a certain threshold.
This comprehensive understanding of Maryland real estate intricacies positions me to provide valuable insights and guidance in navigating the complexities of property transactions in the state.
