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Sponsor says graduated transfer tax would raise revenue and shift costs; real‑estate groups oppose
Summary
Delegate Sheila Ruth outlined a graduated real‑estate transfer tax intended to raise state revenue and generate funds for programs while protecting land‑preservation funding; real‑estate and building industry groups warned it would depress sales and hurt housing supply and jobs.
Delegate Sheila Ruth presented House Bill 342, which would convert Maryland’s flat transfer tax into a graduated rate tied to sale price. The sponsor said the change would shift the current flat half‑percent transfer tax into tiers that begin at one‑quarter percent and increase at higher price points; she and her staff provided county median‑price analyses showing the proposed distribution would lower transfer tax for many median transactions in several counties while increasing it for higher‑priced…
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