Maryland’s state transfer tax is 0.5% of the sale price. State law generally presumes the buyer and seller split transfer and recordation taxes unless the contract says otherwise. Howard County sets its recordation-tax rate, and a county transfer tax may also apply.
If the buyer is a first-time Maryland home buyer who will live in the house, the state transfer-tax rate is 0.25%, and the seller pays the state transfer tax, recordation tax and any local transfer tax unless the parties expressly agree otherwise. Some transfers are exempt; ask your settlement company which rules apply to your sale.
When you sell to us, we pay the closing costs, including Maryland's state transfer tax, recordation tax and any applicable county transfer tax.