MD House Bill 448 Proposed New Tax

By
Real Estate Agent with Long and Foster REALTORS

The Maryland House of Delegates is holding a hearing TODAY (3/14/07) on HB 448 -Sales and Use Tax on Services

HB 448 imposes the sales tax on a long list ofservices including real property management services, business brokerages, cable television, vehicle repairs, engineering service, tax preparation service, employment and temporary help agencies, management and business consulting services, and others. This bill is very similar to HB 1364 of 2004, which was heard in Ways & Means but no action was taken.

This introduced new revenue stream for the State would help with the administrative costs of government which have been covered by the appropriation of broad-based, general tax revenue and not through the imposition of narrowly focused fees and taxes. Expanding the state’s sales tax to include a selective list of services unfairly targets small business.

This tax to property management services will have a significant, negative impact on affordable housing which is already a problem in Maryland.  Rental property owners will realize the additional expense of taxes paid to a property management company. This additional expense combined with recent increases in utility costs, and insurance premiums will most likely be passed on to tenants in the form of higher rents.

If you are concerned about this proposed legislation you can review it further here and you can contact your delegates directly.  To find out your delegates' names and email addresses/phone numbers click here.

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