Md. lawmakers examine bevy of taxes, fees
UFB ... Instead of taking more from the working citizens of Maryland try cutting the size and scope of Maryland's Socialist State. One place to start would be cutting the salaries of all State employees by 50% and banning government Unions. Another goodidea would be getting rid of all departments that are duplicated in the Federal Government. And of course, throw the Anti American/Leftist Democrats out into the street and replace them with Fiscal Conservatives in the next elections. Just saying ...
Md. lawmakers examine bevy of taxes, fees
Washington Examiner.com
By: Hayley Peterson - Examiner Staff Writer
09/15/11 8:05 PM
Taxes on mileage, personal property and new tolls considered
Maryland lawmakers are considering dozens of revenue-raising proposals to shore up a major shortfall in transportation funding, including a 1.3-cent-per-mile tax on motorists, an annual property tax on vehicle owners and new tolls on state and federal highways.
The state's commission on transportation funding says lawmakers need to put at least $800 million into Maryland's withering transportation coffer each year to repair crumbling roads and aging bridges, after Gov. Martin O'Malley drained the fund to plug annual budget deficits.
With another $1 billion budget deficit estimated in fiscal 2013 and local transportation needs pushing $12 billion, budget analysts say Maryland lawmakers may have no choice but to raise taxes.
One proposal would tax motorists 1.3 cents for every mile they drive, which would generate roughly $711 million in the first year.
Another idea, modeled after an approach taken in Virginia, would tax vehicles annually as a form of personal property. The much-loathed tax in the commonwealth charges $4.75 for every $100 assessed value of a vehicle -- or roughly $712 for a car worth $15,000. Lawmakers also are examining whether Maryland could raise its existing property tax, which is set at 11.2 cents for every $100 of a home's value, and direct the added revenue to its transportation fund.
The General Assembly will have to raise the tax in fiscal 2013 anyway to keep up with the state's growing debt service payments, which cannot exceed property tax revenues, according to a state mandate. Increasing the property tax by one cent would generate about $63 million, budget analysts calculated.
The legislature could take a similar approach with the corporate income tax rate, and raise it from 8.25 percent to 9.25 percent for added revenue of $100 million to be directed to the transportation fund.
But some lawmakers -- especially those from rural districts -- say the majority of revenues from any statewide tax increase would end up going to the Washington suburbs and the city of Baltimore.
"We need to look at a local sales tax, in my opinion," said Sen. George C. Edwards, R-Allegany and Garrett counties. Under that proposal, local governments would have the power to impose a sales tax, increase property taxes, or charge their own gas tax to help fund their own transportation needs.
Maryland lawmakers are also examining increases in the state's titling tax, registration fees, rental car sales tax and highway tolls.
Link: http://washingtonexaminer.com/local/2011/09/md-lawmakers-examine-bevy-taxes-fees#ixzz1Y7dEbq2t
Md. lawmakers examine bevy of taxes, fees
Washington Examiner.com
By: Hayley Peterson - Examiner Staff Writer
09/15/11 8:05 PM
Taxes on mileage, personal property and new tolls considered
Maryland lawmakers are considering dozens of revenue-raising proposals to shore up a major shortfall in transportation funding, including a 1.3-cent-per-mile tax on motorists, an annual property tax on vehicle owners and new tolls on state and federal highways.
The state's commission on transportation funding says lawmakers need to put at least $800 million into Maryland's withering transportation coffer each year to repair crumbling roads and aging bridges, after Gov. Martin O'Malley drained the fund to plug annual budget deficits.
With another $1 billion budget deficit estimated in fiscal 2013 and local transportation needs pushing $12 billion, budget analysts say Maryland lawmakers may have no choice but to raise taxes.
One proposal would tax motorists 1.3 cents for every mile they drive, which would generate roughly $711 million in the first year.
Another idea, modeled after an approach taken in Virginia, would tax vehicles annually as a form of personal property. The much-loathed tax in the commonwealth charges $4.75 for every $100 assessed value of a vehicle -- or roughly $712 for a car worth $15,000. Lawmakers also are examining whether Maryland could raise its existing property tax, which is set at 11.2 cents for every $100 of a home's value, and direct the added revenue to its transportation fund.
The General Assembly will have to raise the tax in fiscal 2013 anyway to keep up with the state's growing debt service payments, which cannot exceed property tax revenues, according to a state mandate. Increasing the property tax by one cent would generate about $63 million, budget analysts calculated.
The legislature could take a similar approach with the corporate income tax rate, and raise it from 8.25 percent to 9.25 percent for added revenue of $100 million to be directed to the transportation fund.
But some lawmakers -- especially those from rural districts -- say the majority of revenues from any statewide tax increase would end up going to the Washington suburbs and the city of Baltimore.
"We need to look at a local sales tax, in my opinion," said Sen. George C. Edwards, R-Allegany and Garrett counties. Under that proposal, local governments would have the power to impose a sales tax, increase property taxes, or charge their own gas tax to help fund their own transportation needs.
Maryland lawmakers are also examining increases in the state's titling tax, registration fees, rental car sales tax and highway tolls.
Link: http://washingtonexaminer.com/local/2011/09/md-lawmakers-examine-bevy-taxes-fees#ixzz1Y7dEbq2t