Please note upcoming changes to the Maryland Non-Resident Seller Withholding Tax and the Prince George's County Recordation Tax rates for 2008
Maryland Tax Rate Changes
The Maryland Non-Resident Withholding Tax Rate will increase from 6.75% to 7.5% for individuals. The new rate is effective with settlements taking place on or after July 1st. (The 8.25% rate for entities remains unchanged.)
Additionally, the Prince George's County Recordation Tax will increase from $4.40 per $1,000 of sales price to $5.00 per $1,000 effective with settlements taking place on or after July 5th. 2008
Information provided by Robert B. McArtor, REALTOR® with Long and Foster Real Estate, Inc. and a Licensed Real Estate Auctioneer owner of Advantage Real Estate Auction Sales, Inc. in Maryland serving all counties including Harford, Baltimore and Cecil County, City. If you are relocating to Maryland contact us today! 410-879-0622.
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