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§ 9-225. Property leased or occupied by county or municipal corporations

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, § 9-225
§ 9-225. Property leased or occupied by county or municipal corporations
Currentness
In general
(a) The governing body of a county or a municipal corporation may grant a tax credit against the property tax imposed on real property, up to the amount of property taxes levied by that county or municipal corporation:
(1) for that portion of the property that is leased, occupied, and used by a municipal corporation; and
(2) for which the municipal corporation is contractually liable under the lease.
Subleases
(b) The credit under this section does not apply when the municipal corporation leasing the property subleases the property, uses it for any profit making purpose, or no longer occupies the property.
Tax credit and lease agreements
(c) The lessor of property eligible for a tax credit under this section shall reduce by the amount of the tax credit the amount of taxes for which the municipal corporation is contractually liable under the lease agreement.

Credits

Added by Acts 1995, c. 369, § 1, eff. July 1, 1995.
MD Code, Tax - Property, § 9-225, MD TAX PROPERTY § 9-225
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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