§ 16-1. Tax imposed.

Pursuant to State Tax-Property Article § 12-103(b), the rate of tax applicable to instruments recorded with the Clerk of the Circuit Court for Baltimore City is:

(1) in the case of instruments conveying title to property, $5 for each $500 or fractional part of $500 of the actual consideration paid or to be paid; and

(2) in the case of instruments securing a debt, $5 for each $500 or fractional part of $500 of the principal amount of the debt secured.