[Adopted 3-21-2017 by Ord. No. 17-04]
Except for operating personal property of a public utility and
personal property used to generate electricity for sale, the assessment
of personal property in Queen Anne’s County is subject to County
personal property tax rate on 0% of its value.
The assessment of the operating personal property of a public
utility and personal property described in § 7-237 of the
Tax-Property Article is subject to the County property tax on 50%
of its value for the taxable year beginning July 1, 2017, and each
subsequent taxable year.
[Added 6-9-2020 by Ord. No. 20-02]
A.
The County
shall maintain a Farmland Preservation Fund for the purpose of providing
additional funds to enhance County participation in the programs of
the Maryland Agricultural Land Preservation Foundation. The funds
comprising the Farmland Preservation Fund shall not be allocated to
the County general fund or used for any purpose other than farmland
preservation.
B.
All operating personal property tax revenue received by the County pursuant to § 5-31 of this article shall be paid into the Farmland Preservation Fund; however, at such time as the Farmland Preservation Fund shall reach a balance of $1,000,000, such revenue shall be paid into the general funds of the County, it being the intent that the Farmland Preservation Fund be funded and replenished to a maximum balance of $1,000,000.
C.
The MALPF
local program administrator for Queen Anne’s County is delegated
the authority to expend funds from the Farmland Preservation Fund
for participation in the MALPF matching funds program, subject to
the direction and approval of the County Commissioners. The County
Finance Director shall, at the time of submission of the comprehensive
annual financial report, include information detailing the status
of the Farmland Preservation Fund.
