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Business Climate

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Business Climate : Taxes & Goverment : Tax Rates

Tax Rates

Tax Rates for Municipalities
City Real Property Rate Personal Property Rate Utility Rate
Boonsboro 0.3223 0.75 0.75
Clear Spring 0.25 0.5 0.5
Funkstown 0.28 0.55 0.55
Hagerstown 0.788 1.97 1.97
Hancock 0.52 0.95 0.95
Keedysville 0.18 0.45 0.45
Sharpsburg 0.20 0.44 0.44
Smithsburg 0.35 0.7 0.7
Williamsport 0.485 1.01 1.01
SOURCE: State Department of Assessments & Taxation

 

Tax Rates
Tax State County City
Sales Tax 6% No additional local tax No additional local tax
Real Property Assessment ** Rate per $100 of assessed Value $.112 $.948 $.788
Business Personal Property ** Rate per $100 of assessed value None $2.37 $1.97
Machinery, Tools & Equipment (Mfg.) Exempt*** Exempt Exempt
Manufacturer Inventories Exempt Exempt Exempt
Warehousing Inventories Exempt Exempt Exempt
Research & Development Activities, Equipment Exempt Exempt Exempt
Corporate Income Tax (2008) 8.25% None  
Personal Income Tax (2008) 2.0-6.25% 2.8%  
** Assessment ratio 100%. ***Maryland does not impose a state personal property tax on business. Some business exemptions apply to state sales tax.




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