Saturday, January 30, 2010

Anne Arundel County Backs Off on Real Estate Tax Issue

According to a Baltimore Sun newspaper article, Anne Arundel County, MD has decided to back off on their decision to use unpaid principal mortgage balance rather than sales price as a basis on which to assess recordation taxes. Naturally, this decision was largely condemned by the Maryland real estate and taxpayer community.

The Baltimore Sun reports that Anne Arundel has backed down from this practice, citing an opinion from the Maryland Attorney General that the "practice isn't supported by state law." The full article can be found here. The county will instead assess recordation tax on the sales price as it previously had.

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