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§ 7-245. Personal property with original cost less than $20, 000

West's Annotated Code of MarylandTax-PropertyEffective: June 1, 2022

West's Annotated Code of Maryland
Tax-Property
Title 7. Property Tax Exemptions
Subtitle 2. General Property Tax Exemptions
Effective: June 1, 2022
MD Code, Tax - Property, § 7-245
§ 7-245. Personal property with original cost less than $20,000
Currentness
In general
(a) A person's personal property is not subject to valuation or to property tax if all of the person's personal property statewide had a total original cost of less than $20,000.
Prohibited actions
(b) If the person attests to owning a sum total of personal property with an original cost of less than $20,000, the Department may not:
(1) collect personal property information from the person; or
(2) require the person to submit a personal property tax return.

Credits

Added by Acts 2018, c. 102, § 1, eff. July 1, 2018. Amended by Acts 2022, c. 327, § 1, eff. June 1, 2022; Acts 2022, c. 328, § 1, eff. June 1, 2022.
MD Code, Tax - Property, § 7-245, MD TAX PROPERTY § 7-245
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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