2258

LAWS OF MARYLAND

Ch. 648

CHAPTER 648

(House Bill 1532)

AN ACT concerning

Montgomery County - Transfer Tax
MC 237-80

FOR the purpose of providing that Montgomery County may levy
and impose a certain tax to be paid by the transferor,
on the initial transfer of a residential unit subject
to a condominium regime, which unit was offered for
rent for residential purposes prior to the
establishment of the condominium regime; and providing
that the County may provide for additional exemptions
from the provisions of this Section.

BY repealing and reenacting, with amendments,

The Public Local Laws of Montgomery County
Section 52-20

Article 16 - Public Local Laws of Maryland
(1977 Replacement Volume and 1978 Supplement, as
amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Code of Public Local Laws
of Maryland be repealed, amended, or enacted to read as
follows:

Article 16 - Montgomery County

52-20.

(a) The county council for Montgomery County is
empowered and authorized to levy and impose by resolution or
ordinance a tax to be paid and collected on the transfer in
Montgomery County of any fee simple interest in real
property, except by way of mortgage, deed of trust, or deed
of trust for the benefit of creditors, and on the transfer
of any leasehold interest in real property, where such lease
contains a covenant for perpetual renewal. The rate of such
tax, shall not exceed:

(1) Six percent of the value of the
consideration for any transfer of land, [(] excluding
improvements thereon[)], which, while owned by the
transferor, has been assessed at any time during the five
years preceding transfer on the basis of being actively
devoted to farm or agricultural use. The tax shall be paid
by the transferor of such land; or