Wednesday, February 16, 2011
Semiannual Property Tax Payments Proposed for All Businesses
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.
The bill was championed by Del. Donald Elliott (R-Dist. 4B). This session, Elliott is back with a bill 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.
The bill will be heard by the House Ways & Means Committee on Wednesday, February 23. If you have questions or would like more information, contact Ron Wineholt at .(JavaScript must be enabled to view this email address).
