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DEPUTY SHERIFFS, AND COUNTY AND MUNICIPAL POLICE OFFICERS SAVE ON TRANSFER TAXES WHEN BUYING A NEW HOME
added on February 2, 2010

Since July 1, 2007 Prince George's County Deputy Sheriffs are eligible for elimination or reduction of county transfer taxes. Legislation was enacted in 2006 extending this same benefit to County Police Officers and municipal police officers.

PGCAR Past President Donald Frederick is pleased; "Prince George's County REALTORS® are very pleased that our representatives in Annapolis see the need for affordable workforce housing. This bill provides a tax incentive for law enforcement personnel to buy homes and reside in Prince George's County." This is another step forward in helping our county recruit and retain a quality resident police force."

HB 654 - Prince George's County - Transfer Tax - Deputy Sheriff's, contains the following provisions:

  1. Police FIRST TIME Homebuyers - Eliminates the County transfer tax of 1.4% for Prince George's County Police Officers, Deputy Sheriffs, and municipal police Officers serving local communities in the County WHO ARE FIRST TIME HOMEBUYERS.

  2. Police Homeowners - Reduces the County transfer tax from 1.4% to 1% for County Police, Deputy Sheriffs, and Municipal Police who currently own homes and wish to purchase a new residence.

POTENTIAL TAX SAVINGS:
Given an Average Sale Price of $365,213 (May 2007)
Police First Time Homebuyers: $365,213 x 1.4% = $5,112.98 Tax Savings
Police Homeowners: $365,213 x 0.4% = $1,460.85 Tax Savings

TO QUALIFY:

  1. The purchase property must be improved residential property located in Prince George's County, Maryland.

  2. At least one of the Purchasers must be employed as a Prince George's County Police Officer or Deputy Sheriff, or a municipal corporation police officer serving in Prince George's County.

  3. The police officer must reside in the property as his/her principal residence.

  4. A qualified purchaser must maintain their employment as a County Police Officer, Deputy Sheriff, or Municipal Police Officer for three years following the purchase or they will be required to repay the tax.

REALTORS® Conducting Business in Prince George's County — There is a HOME SALE CONTRACT FORM available to claim this deduction. Log in to Members Only to download and use the single-page affidavit plus explanation, PG Form 1330: County, Municipal Police Officer or Deputy Sheriff County Transfer Tax Exemption Affidavit for this deduction.

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