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§ 6-411. Payments in lieu of taxes for McComas-A2, DMT-Bendix, Seagirt-Parcel B, and Toyota-MD....

West's Annotated Code of MarylandTransportation

West's Annotated Code of Maryland
Transportation
Title 6. Ports (Refs & Annos)
Subtitle 4. Port of Baltimore (Refs & Annos)
MD Code, Transportation, § 6-411
§ 6-411. Payments in lieu of taxes for McComas-A2, DMT-Bendix, Seagirt-Parcel B, and Toyota-MD. Ship
Currentness
In general
(a) The Administration shall make annual payments in lieu of taxes to the Mayor and City Council of Baltimore for the properties known as “McComas-A2”, “DMT-Bendix”, “Seagirt-Parcel B”, and “Toyota-Md. Ship”.
Payment amounts
(b) The payments required under this section shall be:
(1) For fiscal year 1998, $410,000 in aggregate amount;
(2) For fiscal year 1999, $418,200 in aggregate amount; and
(3) For fiscal year 2000 and each subsequent fiscal year, the product of multiplying the applicable Baltimore City real property tax rate times the assessment of the land as determined under Title 8 of the Tax-Property Article, not including the assessment of any improvements, for each of the properties.
Terms and conditions of payments
(c) Payments under this section shall be subject to such terms and conditions, if any, as may be provided by agreement between the Administration and Baltimore City.

Credits

Added by Acts 1996, c. 163, § 1, eff. July 1, 1997.
MD Code, Transportation, § 6-411, MD TRANS § 6-411
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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