[Adopted 10-18-2016 by Ord. No. 35-16]
A.
A commerce zone may be established by resolution of the Board of
County Commissioners of Calvert County, Maryland, in any one or more
of the County's designated priority funding areas ("PFAs") following
a public hearing for which notice and a description of the proposed
commerce zone by Tax Map and parcel number(s) is published in at least
one newspaper of general circulation in Calvert County once each week
for two successive weeks upon:
B.
The Board of County Commissioners of Calvert County, Maryland may
establish any number of commerce zones it deems in the best interest
of the citizens of Calvert County.
C.
All commerce zones established by the Board of County Commissioners
of Calvert County, Maryland need not be contiguous nor need extend
beyond the boundary of a single parcel or lot, or they may.
A.
Any business entity that obtains new or expanded premises, as defined
at § 9-306(h)(l)(iii) of the Annotated Code of Maryland,
Tax-Property Article, in a designated commerce zone in Calvert County,
Maryland is eligible to apply for and obtain a commerce zone property
tax credit.
B.
The commerce zone property tax credit granted a qualifying applicant
shall equal a percentage of the amount of County property tax imposed
on the assessment of the new or expanded premises as prescribed by
the Annotated Code of Maryland, Tax-Property Article, § 9-306(h)(4),
as amended from time to time.
C.
The commerce zone property tax credit shall only be calculated on
the value of the qualifying, new construction.
Any commerce zone property tax credit granted is personal to
business entity that applies for the credit and does not run with
the land or pass to subsequent owners of the qualifying improvements.
