Question 1

What is the personal property tax?

Accepted Answer

The personal property tax is a tax levied by the state of Maryland on the tangible business personal property (mostly furniture, fixtures, and equipment) owned or used by a business. The tax is based on the assessed value of the personal property as determined by the State Department of Assessments and Taxation (SDAT).

Question 2

What happens if a business fails to file the personal property tax return?

Accepted Answer

If a business fails to file the personal property tax return, SDAT may estimate an assessment for the property, and the tax collector will apply the local property tax levy rate to the assessed value to calculate the tax due.

Question 3

Can the personal property assessment be altered or removed?

Accepted Answer

No, the personal property assessment cannot be altered or removed by the local government levying the tax or by the court. The assessment can only be changed by SDAT.

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Carl A Harris & Associates

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What is the personal property tax?

What happens if a business fails to file the personal property tax return?

Can the personal property assessment be altered or removed?

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