[Added 6-18-1991 by Bill No. 91-7]
(a)
Tax imposed. A recordation tax, as authorized
by and subject to Title 12 of the Tax-Property Article of the Annotated
Code of Maryland, is imposed upon instruments of writing recorded
with the Clerk of the Circuit Court of Worcester County.
(b)
Rate. Effective September 1, 1991, the recordation
tax rate in Worcester County shall be two dollars and twenty cents
for each five hundred dollars or fraction of five hundred dollars
of the consideration payable or of the principal amount of the debt
secured for an instrument of writing. Effective September 1, 1997,
the recordation tax rate in Worcester County shall be three dollars
and thirty cents for each five hundred dollars or fraction of five
hundred dollars of the consideration payable or of the principal amount
of the debt secured for an instrument of writing. The consideration
includes the amount of any mortgage or deed of trust assumed by the
grantee.
[Amended 6-10-1997 by Bill No. 97-11]
