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§ 7-240. Nonprofit organizations

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, § 7-240
§ 7-240. Nonprofit organizations
Personal property is not subject to property tax if the property:
(1) is owned by a nonprofit organization that:
(i) is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and
(ii) is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and
(2) is used for the purposes of the organization.

Credits

Added by Acts 1997, c. 382, § 1, eff. July 1, 1997.
MD Code, Tax - Property, § 7-240, MD TAX PROPERTY § 7-240
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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