<small>© 2023 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
<small>© 2023 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).

Tax Break for Police Homebuyers

by Susan Pruden
June 5, 2006
I serve on the Prince George's County Association of REALTORS® Legislative and Political Affairs Committee and I'm very proud of the following legislation that benefits our county and municipal police officers. We worked vigorously to move this legislation through the 2006 Maryland General Assembly. Governor Erlich signed the bill into law on May 2, 2006. The new law takes effect July 1, 2006. If you qualify for this tax break, be sure to let your real estate agent or title company know in advance of settlement.
I. POLICE FIRST TIME HOMEBUYERS - Eliminates the County transfer tax of 1.4% for Prince George's County Police Officers and municipal Police Officers serving local communities in the County WHO ARE FIRST TIME HOMEBUYERS. II. Police Homeowners - Reduces the County transfer tax from 1.4% to 1% for County Police and Municipal Police who currently own homes and wish to purchase a new residence.
TO QUALIFY:
  • The purchase property must be improved residential property located in Prince George's County, Maryland.
  • At least one of the Purchasers must be employed as a Prince George's County Police Officer or a municipal corporation police officer serving in Prince George's County.
  • The police officer must reside in the property as his/her principal residence.
  • Qualified purchasers must maintain their employment as County Police Officers or Municipal Police Officers for three years following the purchase or they will be required to repay the tax.
  • Applicable to settlements occurring after July 1, 2006.
POTENTIAL TAX SAVINGS:
Given an Average Sale Price of $355,034 (March 2006)
Police First Time Homebuyers: $355,034 x 1.4% = $4,970.48 Tax Savings
Police Homeowners: $355,034 x 0.4% = $1,420.14 Tax Savings
© 2006 Susan Pruden.

A lifetime Maryland resident, Susan Pruden has the ideal foundation for selling and buying homes. After 8 years working in just about every facet of the mortgage industry, and several years with her own company specializing in marketing for real estate agents, Susan got her real estate license in 1994. Susan has earned several industry awards. The CENTURY 21 Quality Service Pinnacle Award is based on reviews from Susan's clients and is earned by a very small percentage of agents. She has earned that coveted recognition since 2012

Two others were awarded by the Prince George's Association of REALTORS®. The Distinguished Sales Associate of the Year Award is based on a mixture of community involvement, association involvement and real estate education and designations. The other, the Distinguished Service Award, is for "exceptional meritorious service."

Susan is involved in her local community. She was named Cheverly Volunteer of the Year in 2018, even having June 25th designated "Susan Pruden Day" in the Town of Cheverly. She is also a Commissioner on the Prince George's County Historic Preservation Commission and President of the Cheverly American Legion Auxiliary.

Susan Pruden has lived in Cheverly lived with her husband, Joseph, for almost 30 years.

Susan Pruden, REALTORĀ®
CENTURY 21 New Millennium
1000 Pennsylvania Ave SE
Washington, DC 20003
Direct:
<small>© 2023 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
© 2023 Susan Pruden. All rights reserved. Each CENTURY 21 office is independently owned and operated. Listings provided by Bright MLS from various brokers who participate in IDX (Internet Data Exchange).
 
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