Maryland State Wire

The Tax Foundation has released its latest state rankings concerning property taxes, placing Maryland at 42nd out of 50 states. This marks a slight improvement for Maryland, which moved up one position in the rankings. The evaluation considered state and local taxes on real and personal property, net worth, and asset transfers.

Property taxes are a significant concern for small business owners as they often apply to machinery, equipment, and office furniture in addition to land and buildings owned by businesses. The National Federation of Independent Business (NFIB) is actively advocating for property tax relief in Annapolis. State Director Mike O’Halloran can be contacted for more information regarding NFIB's tax efforts in Maryland.