Real Property Transfer Tax to Take Effect Aug. 8

WASHINGTON, D.C. – July 10, 2015 – (RealEstateRama) — The Board of the County Commissioners of Charles County enacted a county transfer tax in effect Saturday, Aug. 8. Below are the provisions of this tax:

•Rate of the transfer tax is one half of one percent (0.5 %) of the purchase price of the property.

•First-time home buyers are exempt from paying the tax on the first $50,000 of the purchase price of property that has a dwelling unit, provided that the purchaser occupies the property as their primary residence.

•Payment will be payable to Charles County Government.

For detailed information on the transfer tax, visit www.boarddocs.com/md/chrlsco/Board.nsf/goto?open&id=9Y24LD702510.

If there are any questions concerning the above, please contact the Treasury Division at (301) 645-0685 or (301) 870-2249.

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