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Ch. 640
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LAWS OF MARYLAND
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2042
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(2) (IV) FOR PROPERTY REFERRED TO IN
SUBPARAGRAPH (I) OF THIS PARAGRAPH: 1. FOR the purposes of
municipal and county taxation in the counties of Allegany, Anne
Arundel, Montgomery, and Washington, the county commissioners or
governing body of any municipality may, by adoption of an
appropriate resolution or ordinance, exempt such property from
county or municipal taxation, but the valuation shall be carried
on the assessment books as though it is taxable for the purposes
of computing payments to the several political subdivisions which
are provided for in the laws of this State and which in any
manner are based upon or related to assessments and assessed
valuations. [Provided further, that for]
(3) FOR PURPOSES OF COUNTY TAXATION IN
PRINCE GEORGE'S COUNTY, THE GOVERNING BODY MAY BY RESOLUTION
EXEMPT FROM COUNTY TAXATION, AND PROVIDE FOR A NEGOTIATED PAYMENT
IN LIEU OF TAXES ON PROPERTY OWNED BY THE COUNTY, STATE, OR
2. EXCEPT IN WORCESTER COUNTY, FOR
PURPOSES OF MUNICIPAL AND COUNTY TAXATION, THE GOVERNING BODY OF
THE COUNTY OR MUNICIPALITY, BY RESOLUTION OR ORDINANCE, MAY
EXEMPT SUCH PROPERTY FROM MUNICIPAL OR COUNTY TAXATION AND
PROVIDE FOR A NEGOTIATED PAYMENT IN LIEU OF TAXES. FEDERAL
GOVERNMENTS AND LEASED TO A PRIVATE BUSINESS. HOWEVER, THE
VALUATION SHALL BE CARRIED ON THE ASSESSMENT BOOKS AS THOUGH IT
IS TAXABLE FOR THE PURPOSES OF COMPUTING PAYMENTS TO THE
POLITICAL SUBDIVISIONS WHICH ARE PROVIDED FOR IN THE LAWS OF THIS
STATE AND WHICH ARE BASED UPON OR RELATED TO ASSESSMENTS AND
ASSESSED VALUATIONS.
(4) 3. FOR purposes of municipal taxation
in Baltimore City the Mayor and City Council may by ordinance
authorize the exemption from taxation of, and acceptance of a
negotiated payment in lieu of taxes on, property owned by the
city and leased to a private business conducted for profit if the
net income from the property is to be shared with the Mayor and
City Council, but the valuation shall be carried on the
assessment books as though it is taxable for the purposes of
computing payments to the several political subdivisions which
are provided for in the laws of this State and which in any
manner are based upon or related to assessments and assessed
valuations. This authorization of Baltimore City to enter into
an agreement for a payment in lieu of taxes expires on July 1,
1980, but the expiry shall not affect such an agreement executed
prior to that date.
(5) As used [herein] IN THIS SUBSECTION,
(V) AS USED IN THIS PARAGRAPH, the term "port facilities" shall
mean and shall include, without intending thereby to limit the
generality of such term, any one or more of the following or any
combination thereof: lands, piers, docks, wharves, warehouses,
sheds, transit sheds, elevators, compressors, refrigeration
storage plants, buildings, structures, and other facilities,
appurtenances and equipment necessary or useful in connection
with the operation of a modern port or in connection with
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