Springhill Lake Investors Ltd. Partnership v. Prince George's County

CATHELL, Judge.

Section 10-188(d) of the Prince George’s County Code, in pertinent part, contains an exemption from county transfer taxes. It provides: “Upon any refinancing of property by the original mortgagor or mortgagors, the [transfer] tax shall apply only to the consideration over and above the amount of the original mortgage or deed of trust.” The lone issue presented by the case sub judice is whether the indemnity deed of trust that appellant recorded among the land records for Prince George’s County evidenced a refinancing and therefore qualified for the refinancing exemption.

Springhi…