Wednesday, September 24, 2008

Queen Anne County Recordation Tax Update

There may be those in Queen Anne County who were unaware of this fact:

On August 5, 2008 the Queen Anne's Commissioners approved County Ordinance No. 08-17; the ordinance that raises the recordation tax rate for Queen Anne's County to $4.95 per $500. ($9.90 per $1000) This Act shall take effect on the forty-sixth (46th) day following its passage, or September 20, 2008.
This is a 50% increase!

This may have a negative impact on potential buyers who were looking to purchase here in QAC, which may be complicating the real estate market just at a critical time when homeowners and potential buyers are trying to struggle out of the impact of the sub-prime loan crisis???

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