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§ 9-209. Railroad operating properties tax credit

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 9. Property Tax Credits and Property Tax Relief
Subtitle 2. Statewide Optional
MD Code, Tax - Property, § 9-209
§ 9-209. Railroad operating properties tax credit
Currentness
In general
(a) As provided in subsection (c) of this section, the Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may grant, by law, a property tax credit under this section against the county or municipal corporation property tax imposed on the operating property of a railroad company that is subject to assessment under § 8-108 of this article.
Amount of tax credit
(b) The property tax credit under this section shall be 100% of the county or municipal corporation property tax against the property described in subsection (a) of this section.
Conditions for tax credit
(c)(1) A property tax credit may be granted for any fiscal year that the railroad company provides freight service in the county or municipal corporation under a contract between the railroad company or its trustees and:
(i) the county or municipal corporation;
(ii) an industrial development corporation; or
(iii) a private shippers' association.
(2) Under a formula that reduces the obligation because of the property tax credit provided under this section, a contract under paragraph (1) of this subsection shall include a provision that obligates the county or municipal corporation, the industrial development corporation, or the private shippers' association:
(i) to supplement the revenues of the railroad company; or
(ii) to contribute to the restoration or maintenance of the operating property.
(3) A property tax credit granted under this section may be effective for the 3 fiscal years immediately before the fiscal year for which the tax credit is sought.
(4) In Frederick County a property tax credit granted under this section shall continue from year to year until the property is conveyed.
Regulations
(d) The Mayor and City Council of Baltimore City or the appropriate governing body may adopt regulations necessary to carry out this section.
Administration
(e) The Mayor and City Council of Baltimore City or each governing body shall designate the administrative unit or official to administer the property tax credit granted under this section.
Notice of tax credit
(f) When a tax bill is sent to a taxpayer who is entitled to a property tax credit under this section, the Mayor and City Council of Baltimore City or the appropriate governing body shall give notice of the property tax credit under this section to the taxpayer.
Application
(g)(1) Except in Frederick County, if a taxpayer fails to apply for a property tax credit under this section on or before October 1 of each taxable year, the property tax credit may not be granted.
(2) In Frederick County, a taxpayer may apply for a property tax credit under this section on or before October 1 of the taxable year.
(3) A taxpayer shall state under oath that the facts in the application are true.

Credits

Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1986, c. 171; Acts 1989, c. 5, § 1.
Formerly Art. 81, § 9C.
MD Code, Tax - Property, § 9-209, MD TAX PROPERTY § 9-209
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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