Section 7-245 - Exemption for low assessments(a) A person's personal property is not subject to valuation or to property tax if all of the person's personal property statewide had a total original cost of less than $20,000.(b) If the person attests to owning a sum total of personal property with an original cost of less than $20,000, the Department may not:(1) collect personal property information from the person; or(2) require the person to submit a personal property tax return.Amended by 2022 Md. Laws, Ch. 328, Sec. 1, eff. 6/1/2022.Amended by 2022 Md. Laws, Ch. 327, Sec. 1, eff. 6/1/2022.Added by 2018 Md. Laws, Ch. 102, Sec. 1, eff. 7/1/2018.