Maryland Authorizes Certain Wicomico Property Tax Credit (Bill 1 of 2)

The Maryland Governor signed a law that includes authorizing Wicomico County and municipalities in the county to grant a property tax credit for real property that: 1) is owned by Salisbury Neighborhood Housing Services, Inc. (Organization), with the intention of relinquishing ownership in the near future; 2) is used for the purposes of development, rehabilitation, and transfer to a private owner; and 3) is not occupied by administrative or warehouse buildings owned by the Organization. The law is identical to S.B. 847. The law takes effect June 1, and applies to taxable years beginning after June 30. [H.B. 889, enacted ...