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(A) For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
INSTRUMENT OF WRITING. A written instrument that conveys title to or a leasehold interest in real property. INSTRUMENT OF WRITING includes:
(a) A deed or contract;
(b) A lease;
(c) An assignment of a lessee’s interest;
(d) Articles of transfer;
(e) Articles of merger or other document which evidences a merger of foreign corporations or foreign limited partnerships;
(f) Articles of consolidation or other document which evidences a consolidation of foreign corporations.
INSTRUMENT OF WRITING does not include:
(a) A mortgage, deed or trust or other contract that creates an encumbrance on real property;
(b) A security agreement, as defined in Md. Code, Tax-Property Article, § 12-101(e).
(B) The County Commissioners may impose a transfer tax on an instrument of writing:
(1) Recorded with the Clerk of the Circuit Court for Garrett County; or
(2) Filed with the State Department of Assessments and Taxation.
(C) A transfer tax under this section:
(1) Shall be established by ordinance;
(2) May not exceed 1%; and
(3) Does not apply to:
(a) An instrument of writing exempt from the state transfer tax under Md. Code, Tax- Property Article, § 13-207;
(b) A transfer of land subject to the agricultural land transfer tax under Md. Code, Tax- Property Article, Title 13, Subtitle 3; or
(c) The first $50,000 of the consideration payable for an instrument of writing for the transferred real property.
(1986 Code, § 106-1)