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§ 7-513. Dorchester County; personal property

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 7. Property Tax Exemptions
Subtitle 5. County Exemptions--Optional; Payments in Lieu of Taxes
MD Code, Tax - Property, § 7-513
§ 7-513. Dorchester County; personal property
Currentness
In general
(a) Subject to subsection (b) of this section, the governing body of Dorchester County may reduce, by law, the percent of the assessment of personal property other than operating personal property of a public utility.
Percentage of value of personal property taxable
(b) If the governing body of the county enacts a law reducing the assessment of personal property, personal property other than operating personal property of a public utility is subject to county property tax on:
(1) 90% of its value for the first taxable year beginning after enactment of the law;
(2) 80% of its value for the second taxable year beginning after enactment of the law;
(3) 70% of its value for the third taxable year beginning after enactment of the law;
(4) 60% of its value for the fourth taxable year beginning after enactment of the law;
(5) 50% of its value for the fifth taxable year beginning after enactment of the law;
(6) 40% of its value for the sixth taxable year beginning after enactment of the law;
(7) 30% of its value for the seventh taxable year beginning after enactment of the law;
(8) 20% of its value for the eighth taxable year beginning after enactment of the law;
(9) 10% of its value for the ninth taxable year beginning after enactment of the law; and
(10) 0% of its value for the tenth taxable year beginning after enactment of the law and for each taxable year thereafter.

Credits

Added by Acts 2005, c. 386, § 2, eff. July 1, 2005. Amended by Acts 2006, c. 38, § 1, eff. April 8, 2006.
MD Code, Tax - Property, § 7-513, MD TAX PROPERTY § 7-513
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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