Letter to the Editor – St. Mary’s County Transfer Tax Exemption

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Hughesville, Md. – On behalf of the real estate industry and more than 1,900 member businesses in southern Maryland, we would like to voice our support for the St. Mary’s County Landlord Tax Exemption.

At a time when housing affordability continues to deteriorate as the housing market adjusts to reflect current economic changes, the Southern Maryland Association of REALTORS® supports the efforts of the St. Mary’s County Board of Commissioners to provide legal clarification to continue to allow transfer tax reduction of up to $300 on a principal residence transaction in St. Mary’s County.

In a US Strategies Maryland Housing survey conducted in January 2022, it found that over 71% of respondents believe it is too expensive to buy a home in Maryland. In southern Maryland, it rose to 73%.

More than 20% of Marylanders were worried about missing a mortgage or rent payment in the next three months due to high housing costs. Any opportunity to reduce the cost of housing and bring the American dream of home ownership within reach of more citizens should be applauded.

We hope the Commissioners will continue to meet the needs of property owners in the area and continue to allow the exemption through clarifying language.

Respectfully,

Gregg G. Kantak, President

SMAR Board of Directors

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