Personal Property Tax
Incorporated and unincorporated businesses are charged a tax for furniture, fixtures, and equipment utilized in the operation of a business. Property is assessed by the State Department of Assessment and Taxation (SDAT) and forwarded to the County for billing. Most businesses must file a personal property tax return each year. If you are unsure whether you are required to file, please contact SDAT at 410-767-1170.
Forms and online filing of returns are available on the SDAT Website.
The SDAT determines the taxable assessment (assessed value) of your personal property based on the original cost less an annual depreciation allowance. It is important to verify any assessment notices received from SDAT for accuracy.
Personal Property tax bills are mailed throughout the taxable year (July – June), depending on when personal property tax returns were filed by a business. A bill mailed in July that is paid prior to August 1st receives a ½% discount on the County Tax. Personal Property taxes billed in July, August, or September are due September 30th. Personal Property taxes billed in any other month are due by the last day of the month. For any taxable year, the taxes billed are based on personal property located in Howard County as of January 1 of that same year.
Tax Rates are set by the County Council each fiscal year. The rates are based on $100 of assessed value (taxable assessment). Taxes are calculated by dividing the taxable assessment by $100 and then multiplying by the Tax Rates.