§ 11-2-202. REVITALIZATION PROPERTY TAX CREDIT.

(a)

Definitions.

(1)

In this section the following words have the meanings indicated.

(2)

"Base value" means the full cash value of the property used to determine the assessment on which the county property tax on real property was imposed before the substantial completion and first assessment of the improvements.

(3)

"Commercially zoned properties" are properties that are:

(i)

Located in any of the county's designated commercial revitalization districts as specified in the master plan or by resolution of the County Council;

(ii)

Mobile home parks as defined in Title 4, Subtitle 3 of this article; or

(iii)

Senior housing developments.

(4)

"Eligible assessment" means the difference between the base value and the actual full cash value as determined by the State Department of Assessments and Taxation for the applicable taxable period in which the tax credit under this section is granted.

(5)

"Improvements" means physical improvements, paid for in whole or in part by the applicant:

(i)

To a mobile home park by a mobile home park operator; or

(ii)

To a building or structure that requires the issuance of a permit under Article 35, Title 2 of the Code.

(6)

"Senior housing development" means a housing development restricted to seniors, age 60 or older, and located within an approved planned unit development as provided in the Baltimore County Zoning Regulations.

(7)

(i)

"Qualified improvements" means improvements:

1.

To commercially zoned properties; and

2.

Which have a full cash value of $50,000 or more as reflected in the records of the State Department of Assessments and Taxation in the year of their substantial completion and assessment.

(ii)

"Qualified improvements" does not include improvements on properties:

1.

Used for the primary purpose of a railroad or public utility company; or

2.

Covered by the Maryland Condominium Act.

(b)

Authority. The Director shall grant a revitalization property tax credit to a taxpayer who meets the requirements of this section.

(c)

Application - In general.

(1)

Within 120 days after the issuance of a notice of assessment by the State Department of Assessments and Taxation for qualified improvements, the taxpayer shall submit an application to the Director for a tax credit, under oath, on a form provided by the Director.

(2)

The taxpayer may submit an application for a tax credit more than 120 days after the issuance of a notice of assessment but the tax credit shall terminate on the date the tax credit would have terminated if the taxpayer had submitted the application in compliance with paragraph (1) of this subsection.

(d)

Same - Demonstration of qualification. On the application, the taxpayer shall demonstrate that the taxpayer has made qualified improvements.

(e)

Same - Decision of Director.

(1)

Based on the recommendation of the Director of Economic and Workforce Development, the Director of Budget and Finance shall:

(i)

Within 30 days after receiving the application, grant or deny the application for a tax credit under this section;

(ii)

Notify the applicant of the decision at the address in the application; and

(iii)

In the case of a denial, state the reasons for the denial.

(2)

If the Director does not grant or deny the tax credit within 30 days after receiving the application, the application is deemed to be approved.

(f)

Same - Appeal. A taxpayer whose application for a tax credit is denied may appeal the Director's decision as provided for in § 11-2-204 of this subtitle.

(g)

Amount of the tax credit - Mobile home park and senior housing development.

(1)

This subsection applies only to a mobile home park or senior housing development.

(2)

The property tax credit granted under this section shall equal:

(i)

100% of the increase in county real property taxes attributable to the substantial completion and assessment of the qualified improvements:

1.

In a mobile home park; or

2.

A senior housing development that is located in a designated commercial revitalization district; or

(ii)

50% of the increase in county real property taxes attributable to the substantial completion and assessment of the qualified improvements for a senior housing development that is not located in a designated commercial revitalization district.

(h)

Same - Other revitalization property.

(1)

This subsection does not apply to a mobile home park or senior housing development.

(2)

The tax credit granted under this section shall equal 100% of the amount of property tax imposed on the eligible assessment of a property granted a tax credit under this section.

(i)

Same - Maximum. Except as provided in subsection (h)(2) of this section, the property tax credit granted under this section may not exceed the amount of the taxes assessed for the qualified improvements.

(j)

Combination.

(1)

Except as provided in paragraph (2), the property tax credit granted under this section may not be combined with any other tax credit or payment in lieu of taxes applicable to the qualified improvements.

(2)

The property tax credit granted under this section may be combined with the property tax credit granted under § 11-2-203.1. The tax credit under § 11-2-203.1 shall be applied when the tax credit under this section has expired.

(k)

When credit begins.

(1)

The tax credit provided under subsection (g) of this section shall begin with the tax year beginning on July 1 following:

(i)

The substantial completion and assessment of the improvements; or

(ii)

The approval of a tax credit applied for as authorized under subsection (c)(2) of this section.

(2)

The tax credit provided under subsection (h) of this section shall begin, as applicable:

(i)

On July 1 following:

1.

The substantial completion and assessment of the improvements; or

2.

The approval of a tax credit applied for as authorized under subsection (c)(2) of this section; or

(ii)

As applicable, with the first assessment under § 11-2-306, § 11-2-307, or § 11-2-308 of this title following:

1.

The substantial completion and assessment of the improvements; or

2.

The approval of a tax credit applied for as authorized under subsection (c)(2) of this section.

(l)

Duration. Except as provided under subsection (c)(2) of this section, the tax credit granted under this section shall continue for a total of:

(1)

5 tax years; or

(2)

10 tax years if the qualified improvements exceed $10,000,000.

(m)

A tax credit granted under this section runs with the property and a change in ownership does not result in a lapse of the tax credit.

(1988 Code, § 33-37) (Bill No. 11-94, § 1, 3-27-1994; Bill No. 37-94, § 1, 3-24-1994; Bill No. 49-96, § 20, 7-1-1996; Bill No. 91-97, § 1, 9-8-1997; Bill No. 141-97, § 1, 1-31-1998; Bill No. 10-99, § 1, 4-5-1999; Bill No. 71-99, § 1, 9-13-1999; Bill No. 119-99, § 1, 1-24-2000; Bill No. 27-00, § 1, 4-21-2000; Bill No. 80-00, § 1, 10-6-2000; Bill No. 54-01, § 1, 7-9-2001; Bill No. 51-03, § 1, 7-14-2003; Bill No. 72-03, § 23, 7-1-2004; Bill No. 19-04, § 10, 5-29-2004; Bill No. 73-04, § 14, 9-25-2004; Bill No. 102-04, § 1, 12-3-2004; Bill No. 25-06, § 1, 5-5-2006; Bill No. 24-07, § 1, 6-3-2007; Bill No. 90-07, §§ 1, 2, 2-3-2008; Bill No. 121-08, § 1, 2-2-2009; Bill No. 71-13, § 1, 2-3-2014)

Editor's note:
  Section 2 of Bill No. 102-04 provides this Act shall apply prospectively only to applicants for a tax credit filed under § 11-2-202(c) of the Code after the effective date of this Act.