Business Personal Property
There is no state tax on business personal property in Maryland. In addition, five counties (Frederick, Garrett, Kent, Queen Anne's and Talbot) do not levy personal property taxes on ordinary business. The remaining counties and the City of Baltimore levy taxes on the depreciated value of business personal property, which for most property is 10 percent annually to a minimum of 25 percent of original cost.
Business Personal Property Tax Rates for Fiscal Year 2012
(July 1, 2011 - June 30, 2012) Allegany County | $2.455 |
Anne Arundel County | $2.275 |
Baltimore City | $5.670 |
Baltimore County | $2.750 |
Calvert County | $2.230 |
Caroline County | $2.180 |
Carroll County | $2.570 |
Cecil County | $2.3503 |
Charles County | $2.66625 |
Dorchester County | $2.440* |
Frederick County | * |
Garrett County | * |
Harford County | $2.605 |
Howard County | $2.535 |
Kent County | * |
Montgomery County | $1.783 |
Prince George's County | $2.400 |
Queen Anne's County | * |
St. Mary's County | $2.143 |
Somerset County | $2.20925 |
Talbot County | * |
Washington County | $2.370 |
Wicomico County | $1.923 |
Worcester County | $1.750 |
* Frederick, Garrett, Kent, Queen Anne's, and Talbot counties do not impose personal property taxes on ordinary businesses. Only utility operating property is taxed. In addition, Dorchester County is phasing out its business personal property tax 10 percent per year, with a current exemption of 60 percent.
Note: In addition to county property taxes, incorporated municipalities levy business personal property taxes. Additional miscellaneous taxes and/or special taxing areas may apply.
Source: Maryland Department of Assessments and Taxation