The Senior Tax Credit is available to homeowners at least 65 for whom the property is their principal residence (see the HOTC page for details); Interested homeowners must submit the Homeowners Tax Credit Application to the Maryland State Department of Assessments and Taxation (SDAT).

Responsibility for the assessment of all personal property throughout Maryland rests with the Department of Assessments and Taxation. Personal property generally includes furniture, fixtures, office and industrial equipment, machinery, tools, supplies, inventory and any other property not classified as real property.

Personal Property Tax Returns are due to the SDAT by April 15th each year. Extensions of the filing deadline up to 60 days can be granted if the requests are made on or before April 15th.

Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.

As a homeowner, you'll face property taxes at a state and local level. You can deduct up to $10,000 of property taxes as a married couple filing jointly – or $5,000 if you are single or married filing separately. Depending on your location, the property tax deduction can be very valuable.

Sales to an exempt organization - When selling to certain organizations, vendors do not have to collect sales tax. Exempt organizations include cemetery companies; credit unions; veterans groups; volunteer fire, ambulance, and rescue companies; and various non-profit organizations located in Maryland.

More info

The Personal Property Division information page of the SDAT Web site contains links to forms and instructions, brochures, exemptions, tax rate charts and more. We offer several ways for you to obtain Maryland tax forms, booklets and instructions:Anne Arundel County issues business personal property tax bills for any business entity that has business assets located within our jurisdiction. Forms and online filing of returns are available on the SDAT Website . What happens if I don't file? Note: Personal property taxes are due as indicated on the bill. To avoid interest accruing, you should pay the estimated amount. If you are unsure whether you are required to file, please contact the SDAT at 888-246-5941. Your assessment and tax rate are shown on the front of your tax bill. The Tax and Utility Bills Office bills and collects real estate, personal property, corporation, and public utility accounts for Allegany County.

Bill Personal Property Form For Taxes In Maryland

Description

Related forms

Show more info

Form Rating

Form popularity

FAQ

At what age do seniors stop paying property taxes in Maryland?

What is considered personal property for tax purposes in Maryland?

What is the due date for a MD personal property tax return?

How do I claim personal property taxes?

How much do you get back in taxes for owning a home?

Who is exempt from sales tax in Maryland?

More info

Trusted and secure by over 3 million people of the world’s leading companies