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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
Currentness
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 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document