Bill To Increase Recordation Tax Passes County Council

It takes affect Oct. 1st, 2020

 

Frederick, Md (KM) A bill raising the recordation tax rate in Frederick County was approved Tuesday by the County Council. The vote was 6-1 with Councilman Phil Dacy opposed.

The legislation raises the rate rise by $1.00 to $7.00 per $500 of consideration. The additional revenue will be used for agricultural preservation.

The measure was proposed by County Executive Jan Gardner to provide additional funds to purchase easements–or development rights–from farmers. These easement purchases by the county¬† protect agricultural land from being developed.

She said there are usually a large number of farmers applying for easements, but not enough county funds to satisfy everyone.

In addition to agricultural preservation, the revenues from the recordation tax are also used for park acquisition and development, school construction, and the Housing Initiatives Fund.

The measure passed with an amendment to delay its implementation until October 1st, 2020.

The recordation tax is imposed on property sales. .

 

 

By Kevin McManus