Prince George's County Council - Reference No. CB-028-2011

• Reference No.: CB-028-2011
• Draft No.: 1
• Type: Council Bill
• Status: Enacted
• Meeting Body: County Council
• Meeting Date: 7/19/2011
• Introduced Date: 6/21/2011
• Effective date: 9/6/2011
• Title: An Act increasing the County recordation tax rate to Two Dollars and Fifty Cents ($2.50) for each Five Hundred Dollars ($500.00) on all instruments of writing subject to the tax
• Proposers/Sponsors: Ingrid M. Turner, County Executive
• Code sections: 10-192 -
• Contact: Thomas M. Himler Office of Management and Budget

Date	Ver.	Action By	Action	Result
9/6/2011		County Council	effective
7/21/2011		County Executive	signed
7/19/2011	1	County Council	Public hearing	Pass
7/19/2011	1	County Council	enacted	Pass
6/21/2011	1	Sitting as the Committee of the Whole	Favorably recommended
6/21/2011	1	County Council	referred	Pass
6/21/2011		County Council	presented
6/21/2011		County Council	introduced

Title An Act increasing the County recordation tax rate to Two Dollars and Fifty Cents ($2.50) for each Five Hundred Dollars ($500.00) on all instruments of writing subject to the tax Background Pursuant to Section 12-103(b) of the Tax – Property Article of the Maryland Code, the governing body of a county is authorized to set, by law, the recordation tax rate in the county. This Act will amend Section 10-192 of the Prince George’s County Code to increase the County recordation tax rate from Two Dollars and Twenty Cents ($2.20) to Two Dollars and Fifty Cents ($2.50) for each Five Hundred Dollars ($500.00) on all instruments of writing subject to the tax. Currently, the tax rate is Two Dollars and Fifty Cents ($2.50) for each Five Hundred Dollars ($500.00) on all instruments of writing subject to the tax. However, this rate was set by CB-10-2008 which, by its terms, is abrogated and of no further force and effect as of July 1, 2011, causing the rate to revert to Two Dollars and Twenty Cents ($2.20) for each Five Hundred Dollars ($500.00). This legislation nullifies the abrogation clause of CB-10-2008, by continuing the tax rate at Two Dollars and Fifty Cents ($2.50) for each Five Hundred Dollars ($500.00), and making that rate retroactively effective to July 1, 2011. It also ensures a balanced budget in FY 2012.