<?xml version='1.0' encoding='utf-8'?>
<baltimore-city-law heading="§ 17.1-2 Transactions assessed; Tax rate.">
  <section prefix="§" num="17.1-2" heading="Transactions assessed; Tax rate.">
    <para num="(a)" heading="Transactions assessed.">The Yield Tax shall be assessed on those transactions whose value exceeds $1 million, as determined by Subtitles 16 and 17 of &lt;cite data-path="|28"&gt;this article&lt;/cite&gt; for the purposes of calculating the recordation and transfer taxes respectively.</para>
    <para num="(b)" heading="Tax rate.">The rate of tax shall be as follows:<para num="(1)">15% on the amount collected under Subtitle 16 of &lt;cite data-path="|28"&gt;this article&lt;/cite&gt;; and</para>
      <para num="(2)">40% on the amount collected under Subtitle 17 of &lt;cite data-path="|28"&gt;this article&lt;/cite&gt;.</para>
    </para>
    <annotation type="History">Ord. 18-215</annotation>
    <annotation type="History">Ord. 19-233</annotation>
    <annotation type="Editor's Notes">
            This “rate of tax” in subsection (b) of this section was amended by Ord. 19-233, effective March 19, 2019.
          </annotation>
  </section>
</baltimore-city-law>
