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Maryland Code, Tax-Property § 7-509.1

Current as of December 31, 2021 | Updated by FindLaw Staff

(a)(1) The governing body of Washington County may enter into an agreement with the owner of a technology-related business that is located or locates in Washington County for a negotiated payment by the owner in lieu of taxes on personal property owned by the technology-related business.

(2) An agreement for a negotiated payment in lieu of taxes under this section shall provide that, for the term specified in the agreement:

(i) the owner shall pay to Washington County a specified amount each year in lieu of the payment of Washington County personal property tax; and

(ii) all or a specified part of the personal property of the technology-related business shall be exempt from Washington County personal property tax for the term of the agreement.

(b) As specified in an agreement for a negotiated payment in lieu of taxes under this section, for the term specified in the agreement, the personal property of a technology-related business that is located or locates in Washington County is exempt from Washington County personal property tax.

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Cite this article: FindLaw.com - Maryland Code, Tax-Property § 7-509.1 - last updated December 31, 2021 | https://codes.findlaw.com/md/tax-property/md-code-tax-property-sect-7-509-1/

Read this complete Maryland Code, Tax-Property § 7-509.1 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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