[Adopted 3-4-1991 by Ord. No. 112]
The Commissioners of Ridgely hereby levy and will collect from each
business a tax on the personal property of the business located within the
corporate limits of the Town of Ridgely (hereafter the "personal property
tax"). Beginning in 1991, property of the nature described above that is subject
to assessment but that has not been assessed or has been underassessed as
a result of the owner inaccurately reporting the value thereof (hereafter
"escaped property") shall, upon discovery, be assessed as provided in § 8-417
of the Tax-Property Article of the Annotated Code of Maryland.
[Amended 4-4-2000 by Ord. No. 209]
For all fiscal years beginning after June 30, 1999, the annual personal
property tax rate will be the same in each fiscal year as that established
by the Commissioners as the rate applicable to real property for the same
fiscal year.
The personal property tax shall be levied and collected at the same
time and in the same manner and may be on the same bill for any other property
taxes or annual charges levied by the Commissioners of Ridgely.
The personal property tax, until paid, shall be a lien on all of the
taxpayer's property, real, personal or mixed, located within the corporate
limits of the Town of Ridgely. Interest shall accrue thereon after September
1 of that calendar year at the rate of 2/3 of 1% for each month or fraction
of a month. A tax penalty, pursuant to § 14-702 of the Tax-Property
Article of the Annotated Code of Maryland, equal to interest owed shall be
charged each taxpayer whose personal property tax has not been paid by March
1. A penalty, pursuant to § 14-705 of the Tax-Property Article of
the Annotated Code of Maryland, equal to 20% of the assessment shall be charged
each owner of escaped property. The Commissioners of Ridgely may reduce or
abate any penalty for good cause shown.
[Amended 5-3-1999 by Ord. No. 187]
Any personal property tax not fully paid by March 1 next after becoming
due and payable shall be deemed delinquent and subject to collection as provided
by Section 424 of Article 6 of the Code of Public Local Laws of Maryland.
All personal property sales by the Commissioners of Ridgely to satisfy delinquent
personal property taxes shall be final with no right thereafter by the owner
to redeem the property sold.
The Town Clerk/Treasurer shall compile and maintain an alphabetical
listing of taxpayers of personal property tax, together with the assessment
to and taxes due from each taxpayer.
Unless otherwise expressly provided herein or by Sections 420 through
428 of Article 6 of the Code of Public Local Laws of Maryland to the contrary,
this article shall be implemented and interpreted according to the Tax-Property
Article of the Annotated Code of Maryland.
Upon enactment, the Town Clerk/Treasurer shall send a certified copy
of this article to the Maryland Department of Assessments and Taxation.
[Adopted 2-5-2001 by Ord. No. 218]