[Adopted 9-13-2005 by Bill No. 2005-12]
Pursuant to the authorization contained in § 9-217,
Tax-Property Article, Annotated Code of Maryland, Dorchester County
may grant, by law, a tax credit against the County property tax imposed
on real property on which erosion control structures or devices have
been installed or for which erosion control procedures have been implemented
that halt or retard erosion of shorelines and deposit of eroded sediments
in the waters of the state.
Dorchester County grants a real property tax
credit in an amount equal to 30% of the total cost of qualified erosion
control structures installed on or after July 1, 2006.
[Amended 8-15-2006 by Bill No. 2006-6]
Erosion control structures eligible for this
credit are defined as steel bulkheads, timber bulkheads, vinyl bulkheads,
concrete walls, stone masonry walls, stone revetments, stone reinforcement,
stone breakwaters, jetties, or groins.
This credit shall apply for a period equal to
the lesser of 15 taxable years immediately following the installation
of the qualified erosion control structure or the years required to
recover 30% of the total cost of the qualified erosion control structure.
Subject to limitation contained within § 144-42, the annual credit shall equal the lesser of the total cost of the qualified erosion control structure divided by 15 years or the annual County real property tax levied.
The annual value of all credits granted to all
property owners under this article shall not exceed $150,000.
A.
The Department of Finance shall administer this credit.
B.
The property owner must apply for the tax credit in
the year the qualified erosion control structure is installed to receive
the credit in that tax year or ensuing tax years.
C.
The property owner must show that the qualified erosion
control structure complies with all applicable federal, state, and
local laws, codes, permits and standards.
D.
The property owner must document the total cost to
the property owner of the qualified erosion control structure.
