|
|
 Taxes Maryland
and Wicomico County's basic tax philosophy is one of fairness and
consistency. The state and county have:
1. No unitary tax on profits
2. No income tax on foreign dividends
3.
No gross receipts tax on manufacturers
4. No corporate franchise tax
5. No separate school taxes
Tax
Rates
|
Location
|
per
$100
|
Location
|
per
$100
|
|
Wicomico
|
$ .881
|
Mardela
Springs
|
$
.200
|
|
Salisbury
|
$ .819
|
Willards
|
$
.460
|
|
Delmar
|
$
.676
|
Pittsville
|
$ .360
|
|
Fruitland
|
$
.700
|
Sharptown
|
$
.600
|
|
Hebron
|
$
.400
|
|
|
|
|
|
|
|
|
Personal
Property Tax*
|
$2.203 |
*Manufacturing
machinery & equipment
for Wicomico County exempt upon application & approval. |
|
|
|
|
State
Property Tax |
$ .112
per $100
|
|
|
Corporate
Income |
8.25%
|
|
|
Personal
Income |
State
progressive to 5.5% max |
|
|
Retail
Sales |
6%
|
|
|
Source: MD Dep't. of Assessments |
Wicomico Assessable Basis
|
Year
|
Amount
($000)
|
% Increase from Prev. Yr.
|
|
2006 |
$4,940,897 |
9.2% |
|
2005 |
$4,523,211 |
6.8% |
|
2004 |
$4,234,733 |
4.2% |
|
2003
|
$4,063,199
|
4.4%
|
|
2002
|
$3,890,879
|
3.7%
|
|
2001
|
$3,751,074
|
6.6%
|
|
2000
|
$3,519,716
|
5.6%
|
|
1999
|
$3,332,432
|
2.4%
|
|
1998
|
$3,255,126
|
2.8%
|
|
1997
|
$3,164,994
|
5.2%
|
|
Source:
Wicomico County Dep't. of Finance |
Top
Retail Sales Tax Receipts
|
($000) |
2006 |
2005 |
2004 |
2003 |
2002 |
|
Total |
$71,606 |
$71,499 |
$62,920 |
$56,959 |
$55,320 |
|
Food & Bev |
$11,984 |
$11,135 |
$10,262 |
$
9,271 |
$
9,587 |
|
General Merch |
$18,686 |
$18,380 |
$15,233 |
$14,776 |
$14,565 |
|
Furn & App |
$ 3,541 |
$ 3,407 |
$ 3,249 |
$
2,993 |
$
4,025 |
|
Auto
& Oil |
$ 5,216 |
$ 3,980 |
$ 3,653 |
$
3,883 |
$
3,817 |
|
Building
Ind. |
$ 9,773 |
$ 9,429 |
$ 8,057 |
$
6,567 |
$
6,200 |
|
Utility & Transportation |
$14,828 |
$13,254 |
$12,055 |
$
9,799 |
$
8,398 |
|
Hardware,
Machinery |
$ 2,723 |
$ 2,726 |
$ 2,171 |
$
1,852 |
$
1,730 |
|
Source: State of Maryland, Comptroller of the Treasury |
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