ALERT: Maryland Personal Property Tax Assessments Being Issued
October 30, 2014
The Maryland Department of Assessments & Taxation (SDAT) is actively processing January 1, 2014 personal property tax assessments. SC&H Group’s State & Local Tax practice can help ensure that your tax obligations are fair and accurate.
Did you know that Maryland is one of the only states to not have a statutory timeframe within which assessments must be issued? This means that assessments issued well into the subsequent calendar year may make your budgeting and accrual processes difficult.
Maryland taxpayers can search for assessments on the SDAT’s website. Here are a few things to keep in mind once your assessment is issued:
- Some Maryland taxing authorities, such as Prince George’s County and Baltimore City, have issued estimated tax bills in October in cases where a current year assessment has not yet been issued. If you have received and paid an estimated tax bill, you should receive either a refund or a supplemental tax bill upon issuance of your assessment.
- Review your assessment carefully to ensure it matches what you expect based on the rendition filed.
- You have 45 days from the date of that assessment in which to file an administrative appeal.
If you have questions about your Maryland assessment, or if you would like assistance in reviewing it to see if opportunities exist for potential tax savings, please contact SC&H Group’s Personal Property Tax team, or send an email to SCH_SALT@schgroup.com