Personal Property Taxes
All qualifying personal property located within the town limits is subject to taxation, except that which is specifically exempt. Personal property assessments are reported to the town by the State Department of Assessments and Taxation (SDAT) based on the information from a business’ annual personal property tax return.
The return is due April 15 and is based on property in place for the year ended January 1. An example of a billing is as follows: a tax bill with a levy period of 2008/2009, which commenced on July 1, was assessed based on the return that was filed on April 15, 2008. The state assessment takes into account an allowance (similar to depreciation) based on the year the property was placed in service.
The tax rate, which is set each year by the Board of Town Commissioners, is currently $1.16 per $100 of assessed value.
It is important for businesses that are only located within the incorporated limits of the town to identify that fact on their personal property tax return. Businesses that have multiple locations will need to break out the information required on the return by location.
If your business was incorrectly assessed by the town, has been dissolved, has moved outside the town limits, or you have any other questions regarding the personal property tax assessment, it is important to contact SDAT as follows: incorporated businesses 410-767-1170 and unincorporated businesses 410-767-4991 or visit the SDAT website.
The town cannot make any adjustments to assessments, and all SDAT adjustments are subsequently reported to the town for billing adjustment.
Annual tax bills are mailed to taxpayers at the end of the month in which the information is received by the town from SDAT.
Taxes not paid within 60 days of the bill date will be considered delinquent and will begin to accrue interest at the rate of 1.5% per month. For businesses that are required to have a trader’s license (generally who sell items) through Harford County Circuit Court, if payment is not received by April 30, the town will not release the license until payment is received.