New Baltimore Yield Tax
Effective January 11, 2019, Baltimore City will impose a new "Yield" tax, the proceeds of which are dedicated to the Affordable Housing Trust Fund. With certain exceptions, this tax applies to all transactions for which City Recordation and Transfer taxes are due pursuant to Balto. City Code, Art. 28, Subtitles 16 and 17, and for which the consideration exceeds $1,000,000.
The rate of the Yield Tax is:
- 0.15% on the amount collected under Subtitle 16, Recordation Tax
- 0.6% on the amount collected under Subtitle 17, Transfer Tax
Baltimore City Code Article 28, Subtitle 17.1 Recordation and Transfer Taxes - Yield Excise Tax (PDF)
Maryland Transfer and Recordation Tax Table Revised January 3, 2019 (PDF)
Please contact an Underwriters at Fidelity NCS D.C. if you have questions. (PDF)