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PRINCE GEORGE'S COUNTY v. McMAHON

No. 1563, September Term, 1983.

59 Md. App. 682 (1984)

477 A.2d 1218

PRINCE GEORGE'S COUNTY, MARYLAND v. JOHN B. McMAHON, JR., ET AL.

Court of Special Appeals of Maryland.

July 16, 1984.

Attorney(s) appearing for the Case

Carl Harris, Upper Marlboro, with whom were Thomas P. Smith, County Atty. for Prince George's County, Michael O. Connaughton, Deputy County Atty., and Frederick J. Wieker, Associate County Atty., on the brief, for appellant.

Stephen H. Sachs, Atty. Gen., and Catherine M. Shultz, Asst. Atty. Gen. for amicus curiae, State of Md.

Keith A. Rosenberg, Washington, D.C., with whom were Meyer, Faller & Weisman, P.C., Washington, D.C. on the brief, for appellees.

Argued before BISHOP, ADKINS and BELL, JJ.

BELL, Judge.

We are asked in this case to decide the basis upon which the state recordation tax and the local Prince George's County transfer tax should be computed for a wraparound deed of trust.1 We hold that based on Article 81 § 277 of the Md.Code, the recordation tax should be assessed on the "principal amount of the debt then incurred" by the transaction, which includes the amount of a prior debt only if extinguished by the...

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