Wednesday, February 17, 2010
Bill Would Allow Small Business Owners to Pay Property Taxes in Two Payments
Since 1995, owners of residential, owner-occupied property have had the option to pay their real property taxes in two installments. In these tough economic times, the Maryland Chamber of Commerce believes extending the semiannual payment option to small businesses would make a lot of sense.
“Many small businesses are currently experiencing difficult cash flow problems as sales decrease and customers disappear,” Maryland Chamber Vice President of Government Affairs Ron Wineholt said. “Allowing small business owners to pay their property taxes in two installments, just like homeowners, could be a significant help for some businesses.”
Del. Donald Elliott (R-Dist. 4B), with the Maryland Chamber’s input, has once again introduced legislation to allow owners of commercial real property with an annual property tax bill of less than $50,000 to pay their property tax in semiannual payments.
Last year, the bill died without a vote in the House Ways & Means Committee. This year it’s back, with broad bipartisan support and 20 additional sponsors.
If this legislation would help your business, we’d love to hear from you. Contact Ron Wineholt at .(JavaScript must be enabled to view this email address) to give us your feedback or for more information.
