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Ch. 40
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1340
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LAWS OF MARYLAND
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metropolitan commission system, only a minimum front foot
levy shall be charged. As used [herein] IN THIS
PARAGRAPH CLAUSE (1)__ONLY, "community associations" means
THOSE incorporated associations whose membership is
limited to voluntary subscriptions by residents of the
communities or development and which have no power either
by law, covenant, or any other means to assess fees
against residents or property owners based on property
values[.]; AND (2) FROM COUNTY TAXATION ONLY, THE COUNTY
COUNCIL MAY ALLOW TAX CREDITS FOR REAL AND TANGIBLE
PERSONAL PROPERTY OWNED BY COMMUNITY ASSOCIATIONS ANY
COMMUNITY ASSOCIATION, NOT LIMITED AS IN CLAUSE (1), AND
USED FOR COMMUNITY, CIVIC, EDUCATIONAL, LIBRARY, OR PARK
PURPOSES. THESE CREDITS MAY NOT BE GRANTED FOR ANY
SWIMMING POOLS, TENNIS COURTS, OR SIMILAR RECREATIONAL
FACILITIES.
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(O-1) IN WASHINGTON COUNTY, FROM COUNTY TAXATION
ONLY, REAL PROPERTY ON WHICH IMPROVEMENTS ARE MADE TO
EXISTING STRUCTURES WITHIN AND CONTROLLED BY ANY HISTORIC
DISTRICT IN THE COUNTY IN ORDER TO ENCOURAGE IMPROVEMENT
AND RECONSTRUCTION OF PROPERTIES LOCATED WITHIN THOSE
AREAS, ALL TO BE DONE ACCORDING TO THE FOLLOWING
SCHEDULE:
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(I) THE PROPERTY SHALL BE EXEMPT RECEIVE A
CREDIT TO THE EXTENT OF 100 PERCENT OF THE INCREASE IN
ASSESSED VALUATION OF THE PROPERTY ATTRIBUTABLE TO THE
RECONSTRUCTION AND IMPROVEMENT. THIS EXEMPTION CREDIT
SHALL OCCUR IN THE FIRST AND SECOND TAXABLE YEARS IN
WHICH THE IMPROVED STRUCTURE IS SUBJECT TO TAXATION.
(II) FOR THE THIRD TAXABLE YEAR, THE
EXEMPTION CREDIT SHALL BE TO THE EXTENT OF 80 PERCENT OF
THE INCREASE IN ASSESSED VALUATION OF THE PROPERTY
ATTRIBUTABLE TO THAT RECONSTRUCTION.
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(III) FOR THE FOURTH TAXABLE YEAR, THE
EXEMPTION CREDIT SHALL BE TO THE EXTENT OF 60 PERCENT OF
THE INCREASE IN ASSESSED VALUATION OF THE PROPERTY
ATTRIBUTABLE TO THAT RECONSTRUCTION.
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(IV) FOR THE FIFTH TAXABLE YEAR, THE
EXEMPTION CREDIT SHALL BE TO THE EXTENT OF 40 PERCENT OF
THE INCREASE IN ASSESSED VALUATION OF THE PROPERTY
ATTRIBUTABLE TO THAT RECONSTRUCTION.
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(V) THEREAFTER, AN EXEMPTION A__CREDIT FOR
THE PURPOSES OF THIS SUBSECTION MAY NOT BE ALLOWED.
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[(u) In Washington County, from county taxation
only, real property on which improvements are made to
existing structures within and controlled by any historic
district in Washington County so as to encourage
improvement and reconstruction of those properties
located within those areas, all to be done according to
the following schedule:
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