1778

LAWS OF MARYLAND

Ch. 390

(3) FROM COUNTY TAXATION ONLY, AT THE DISCRETION
OF THE COUNTY COMMISSIONERS, THE REAL PROPERTY LEASED BY AND
USED EXCLUSIVELY BY THE SYKESVILLE LITTLE LEAGUE, INC.,
LOCATED EAST OF OBRECHT ROAD IN THE 5TH ELECTION DISTRICT OF
CARROLL COUNTY; AND

(3) (4) (I) [from] FROM county taxation only,
real property on which improvements are made to existing
structures within and controlled by any historic district in
Carroll County so as to encourage improvement and
reconstruction of those properties located within those
areas; [all to be done]

(II) THE EXEMPTION SHALL BE according to
the following schedule:

[(i)] 1. The property shall be exempt from
real estate taxation to the extent of 100 percent of the
increase in assessed valuation of the property attributable
to the reconstruction and improvement. This exemption shall
occur in the first and second taxable years in which the
improved structure is subject to taxation.

[(ii)] 2. For the third taxable year in
which the improved structure is subject to taxation, the
exemption shall be to the extent of 80 percent of the
increase in assessed valuation of the property attributable
to that reconstruction.

[(iii)] 3. For the fourth taxable year in
which the improved structure is subject to taxation, the
exemption shall be to the extent of 60 percent of the
increase in assessed valuation of the property attributable
to that reconstruction.

[(iv)] 4. For the fifth taxable year in
which the improved structure is subject to taxation, the
exemption shall be to the extent of 40 percent of the
increase in assessed valuation of the property attributable
to that reconstruction.

[(v)] 5. Thereafter, no exemption [for the
purposes stated above] shall be allowed UNDER THIS
PARAGRAPH.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 12, 1981.

CHAPTER 391
(House Bill 722)