Tuesday, March 15, 2011
Committee Approves Semiannual Property Tax Payments Bill
The House Ways and Means Committee approved legislation that would allow all commercial real property owners to pay their property taxes in two installments.
Last session, the Maryland General Assembly passed legislation to allow commercial real property owners with an annual property tax bill of less than $50,000 to pay taxes in semiannual installments, effective July 2011. The Maryland Chamber supported the bill. During tough economic times, the Chamber argued that an initiative like this can help small businesses deal with cash flow problems by allowing them to pay their property taxes in two installments, like homeowners have been doing since 1995.
That bill’s sponsor, Del. Donald Elliott (R-Dist. 4B), is back this session with legislation to extend the semiannual payment option to all commercial property owners (HB 463). The Maryland Chamber supports the legislation. In this tough economy, the Maryland Chamber believes that providing all businesses with the flexibility of semiannual payments is a good idea.
For more information, contact Ron Wineholt at .(JavaScript must be enabled to view this email address).
