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Montgomery Co. sues Fannie Mae, Freddie Mac for back taxes

Montgomery County officials are suing Fannie Mae and Freddie Mac for at least $75,000 in unpaid Maryland property transfer taxes, the Washington Examiner reported.

Corporations and residents who buy or sell real estate in the county are subject to a 1 percent transfer tax. According to county law, though, government agencies are exempt from this rule if a property is being transferred to them. Fannie and Freddie are considered government agencies, though county officials claim they should be classified as private, for-profit companies; therefore they shouldn’t be exempt from the payment.


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