MACo Associate Director Andrea Mansfield testified before the House Ways and Means Committee on March 3 in support of HB1087 with amendments. HB 1087 would grant a one-time personal property tax exemption for businesses that organize during the current tax year or relocate their headquarters to Maryland in the current tax year.
Instead of requiring counties that impose the personal property tax to provide this exemption, MACo requested that counties be given the option of providing the exemption in these circumstance. This would enable each county to better tailor its economic development strategies to meet the needs of businesses starting up or relocating in the area.