Bill > HB602

This bill exempts certain first-time home buyers in Baltimore County from paying the county's transfer tax, which is a tax levied on the transfer of real property. Specifically, it defines a "first-time Maryland home buyer" as an individual who has never previously owned residential real property in Maryland that served as their primary residence. The exemption applies to instruments of writing, which are legal documents like deeds, that transfer improved residential real property to such a buyer who intends to occupy the property as their principal residence. If there are multiple buyers (grantees), the exemption only applies if every grantee is either a first-time home buyer or a co-maker or guarantor of a purchase money mortgage or deed of trust for the property, provided they will not be living in the home as their primary residence. To qualify, the buyer or their agent must provide a sworn statement confirming their status as a first-time home buyer and their intention to occupy the property, or their role as a co-maker/guarantor who will not occupy the property. This provision aims to make homeownership more accessible for individuals entering the housing market for the first time.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0602?ys=2026RS