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2226
LAWS OF MARYLAND
Ch. 342
CHAPTER 342
(House Bill 729)
AN ACT concerning
Prince George's County - Transfer Tax - Deferral or Abatement
PG 409-85
FOR the purpose of altering the maximum allowable period of time
for the deferral or abatement of the transfer tax in Prince
George's County for certain property transfers.
BY repealing and reenacting, with amendments,
The Public Local Laws of Prince George's County
Section 10-187
Article 17. - Public Local Laws of Maryland
(1979 Edition and 1982 Supplement, as amended)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 17 - Prince George's County
10-187.
(a) Except as provided in Subsection (b), the Council is
authorized and empowered to impose a tax, at a rate not to exceed
one and one-half percent (1 1/2%) of the actual consideration
paid or to be paid under every instrument of writing conveying
title to real property, or any interest therein, in the County,
offered for record and recorded in the County, provided that
conveyances to the State or any agency thereof or any political
Subdivision of the State, shall not be subject to the tax imposed
by this Section. The term "instrument of writing" shall include
deeds, mortgages, deeds of trust, leases, contracts and
agreements, but shall not include purchase money mortgages,
purchase money deeds of trust, assignments of mortgages or
releases, provided, however, upon any refinancing of property, by
the original mortgagor or mortgagors the tax shall apply only to
the consideration over and above the amount of the original
mortgage or deed of trust. The County Council may, by ordinance,
provide that any instrument of writing for the refinancing of
property by the original mortgagor or mortgagors shall not be
subject to the tax imposed by this Section.
(b) The Council may not impose a tax on the consideration
represented by the assumption of a mortgage or deed of trust on
an instrument of writing conveying title to real property between
a husband and wife.
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