Transfer Rates/Recordation Taxes for DC, VA & MD

DC

• DC Recordation is calculated using the purchase price.Transactions $399,999 and under are taxed at the rate of 1.1% of the purchase price. Example: $300,000 x 1.1% = $3,300. So the buyer and seller would each pay $3,300 for a total of $6,600 paid to DC.Transactions $400,000 and above are taxed at the rate of 1.45% of the purchase price. Example: $500,000 x 1.45% = $7,250. So the buyer and seller would each pay $7,250 for a total of $14,500 paid to DC.
  

  Please Note: For transactions on or after October 1, 2006, DC Transfer/Recordation Tax will increase to 1.45% for transactions in the amount of $400K and above. All residential transactions under $400K will remain at 1.1%. All commercial transactions will be 1.45%.

  See information about the DC Tax Abatement Program here: DC Tax Abatement Program

Refinance Transactions

• Residential Properties are exempt; DC does not tax a Deed of Trust so long as the property is Class I or Class II (i.e., residential).

Recording Fees

• $26.50 for the first two pages and $7 for each page thereafter. This generally results in a total recording cost of approximately $290 on purchases and approximately $215 on refinances.

Property Taxes
Taxes are paid semi-annually, the two tax periods are:

• Taxes due on 3/15 for the period of 10/1 - 3/31.
• Taxes due on 9/15 for the period of 4/1 - 9/30.

VA

Purchase Transactions - All Counties

• Deed Tax = $3.33 per $1000 of Purchase Price.
• Trust Tax = $3.33 per $1000 of loan amount.

Refinance Transactions - All Counties

• Trust Tax = $3.33 per $1000 of loan amount.

If payoff lender is same as new originating lender, borrower pays $2 per $1000 only on the difference of increase of loan amount.

Recording Fees
$33.00 to record a deed and $66.00 to record a mortgage, regardless of the number of pages in the documents. This generally results in a total recording charge of approximately $99 for both purchases and refinances.

Property Taxes
Taxes are paid semi-annually, due dates vary by county. A few counties are outlined below:

• Fairfax County,
  • First Half due 7/28
  • Second Half due 12/5
  • 703-222-8234
• Arlington
  • First Half due 6/5
  • Second Half due 10/5
  • 703-228-3090
• City of Alexandria
  • First Half due 6/15
  • Second Half due 11/15
  • 703-838-4777
• Prince William
  • First Half due 7/28
  • Second Half due 12/5
  • 703-792-6710

MD

Purchase Transactions

• State Transfer Tax is 0.25% to purchasers for all counties. Note:If first-time Maryland Homebuyer and will occupy property as principal residence, then borrower is exempt from this tax. However, all purchasers must be first-time Homebuyers in Maryland in order to qualify.
• State Recordation Tax (see chart below).
• County Transfer Tax (see chart below).

Refinance Transactions

• State Recordation Tax (see chart below) based on loan amount*.
• On principal residence transactions, the borrower pays State Recordation Tax only on the difference between the new loan amount and the existing principal balance.
• If the property is not a principal residence, please contact Federal Title & Escrow Company for calculating transfer and recordation taxes.

Recording Fees for Residential Properties

• $40 for each Deed or Deed of Trust.
• $40 per release.

This generally results in a total recording charge of approximately $90 for purchases and approximately $80 for refinances.

Property Taxes
Principal residences are paid semi-annually, investment properties are paid annually.

• Taxes due on 9/30 for the period of 7/1 - 12/31.
• Taxes due on 12/31 for the period of 1/1 - 6/30.

Updated on 9/6/2006 - This information is deemed reliable, but not guaranteed.