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Maryland Code, Tax-Property § 7-221

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Personal property is not subject to valuation or to property tax, if the personal property is owned by:

(1) a financial institution as defined in § 8-101(c) of the Tax-General Article other than a savings and loan association as defined in § 7-221.1 of this subtitle; or

(2) a federal or State chartered credit union.

(b) This exemption does not include any personal property that is leased, loaned, or made available by the institution for the use of a person whose business is not that of the institution.

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Cite this article: FindLaw.com - Maryland Code, Tax-Property § 7-221 - last updated January 01, 2025 | https://codes.findlaw.com/md/tax-property/md-code-tax-property-sect-7-221/

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