Bill Positions

Bill Number: HB 463

Bill Title: Property Tax - Semiannual Payment Schedule - Business Property

Bill Sponsor(s): Dels. Elliott, et al.

Subject: Budget & Tax

Committee: W&M

Bill Summary: This bill will allow a commercial real property owner to pay real property taxes in semiannual installments if their total real property tax bill is less than $100,000, effective July 1, 2012.

History: In 2010 the General Assembly enacted HB 484, which will allow commercial real property owners with an annual real property tax bill of less than $50,000 to pay the taxes in semiannual installments, effective July 1, 2011. HB 463 of 2011 was enacted as Chapter 593.

Chamber Position: Support

Position Summary: For the past decade, owners of residential, owner-occupied property have had the option to pay their real property taxes in 2 installments. This bill will extend the semiannual payment option to additional commercial property owners. At a time that many businesses are struggling to keep their doors open, this bill will help businesses with their cash flow by not having to pay a large property tax bill in one payment.

Position Statement: Click here

Chamber Staff: Ronald Wineholt

General Assembly: Click here to view the bill on the Maryland General Assembly's website.