[Adopted 6-13-1988 by Bill No. 1988-18[1] ; amended in its entirety 7-1-2003 by Bill No.
2003-12]
[1]
Editor's Note: This ordinance also repealed
former Art. I, Tax on Recorded Instruments, adopted 6-13-1983 by Bill
No. 1983-2, and reenacted it with amendments to read as currently
set forth in Art. I.
The following rate of tax shall be applicable
to instruments recorded with the Clerk of the Circuit Court for Wicomico
County:
A.
In the case of instruments conveying title to property,
the tax shall be at the rate of $3.50 for each $500, or fractional
part thereof, of the actual consideration paid or to be paid.
B.
In the case of instruments securing a debt, the tax
shall be at the rate of $3.50 for each $500 of the principal amount
of the debt secured.
[Added 2-2-2016 by Bill
No. 2016-02]
Pursuant to § 12-109(b)(1) of the Tax-Property Article
of the Annotated Code of Maryland, the Director of Finance is designated
to collect recordation tax in Wicomico County.
The tax provided for in this article shall be
due and payable on and after August 30, 2003.
