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§ 7-205. Nonprofit community water corporations

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 7. Property Tax Exemptions
Subtitle 2. General Property Tax Exemptions
MD Code, Tax - Property, § 7-205
§ 7-205. Nonprofit community water corporations
Property that is owned by any nonprofit community water corporation is not subject to property tax if the corporation:
(1) is owned by a majority of the lot owners in the area that the water system serves; and
(2) charges a rate that is sufficient only to pay for the cost of operating the system.

Credits

Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986.
Formerly Art. 81, § 9.
MD Code, Tax - Property, § 7-205, MD TAX PROPERTY § 7-205
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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