With Tax Day just two days away, one senses a tinge of financial regret in the air. Here's an investment a lot of us may wish we'd considered: Anyone who enrolled in Maryland's Prepaid College Trust when it was launched in 1998 on behalf of a child now in college earned the equivalent of a 10.5 percent annual return on investment tax-free.

That's a pretty spectacular result (and not necessarily one that is certain to happen again), but it underscores the value of tax-advantage college savings through Maryland's 529 plans, both the prepaid tuition and the College Investment Plan. Too bad more people don't take advantage.

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The tax man cometh … prepared?

For those of you who just don't seem to remember that tax filing deadlines are the same time each year, here are some last minute tips. This year's deadline for filing personal income tax returns is Tuesday, April 17, due to the celebration of Emancipation Day in Washington D.C. on Monday, April 16. The State of Maryland also has the same filing deadline for your personal income tax return this year. All states are not the same, so if you need to file a return for another state, be careful! If you have a balance due to the State of Maryland, you can hold onto your money longer by electronically filing your return by April 17 and schedule your direct debit or credit card payment for any date that you choose, up to April 30. This gives you additional time to pay for the state tax you may owe.

16.5 percent tax hike proposed

SALISBURY -- Mayor Barrie Tilghman recommended a 12-cent increase in property taxes and a 10 percent hike in water and sewer fees Friday to offset declining revenues, higher salary demands and more infrastructure needs in her 2008 budget. As part of her $43.5-million proposal, she would generate an additional $3 million from these fees, but the overall request is about $1.5 million short of the current year's budget largely due to fewer water and sewer expenses.

Tilghman unveiled that property tax revenues should climb significantly next year, about $700,000. A declining economy, however, will reduce income tax revenues by $264,000, building permit fees by $400,000 and ambulance fees by $142,000. To make up the shortfall -- and to cover additional cost of living pay increases and infrastructure improvements -- she said taxes and fees must be increased.

Bills of local interest

Editor's note: This is a list of the final results of local bills introduced in the Maryland General Assembly during the 2007 regular session. For more information, go to mlis.state.ms.us and click on "Bill Information and Status."

HB 352 - Authorizes and empowers the Washington County Commissioners to borrow up to $80 million to finance the cost of construction, improvement or development of specified public facilities in Washington County. Passed on third and final reading by House (134-0). Passed with amendments on third and final reading by Senate (47-0). House approved Senate version (138-0).

The mad dash

Last-minute filers will be running at top speed over the next couple of days, scrambling to get their 1040s in the mail before Tuesday's deadline. Here are a few tips to help them get to the finish line. By Leonard Wiener, Globe Correspondent | April 15, 2007