[HISTORY: Adopted by the Commission of the Town of Cottage
City 10-12-2016 by Ord. No. 2016-06. Amendments noted where applicable.]
Effective for the tax year beginning July 1, 2017, and for each
tax year thereafter unless altered by subsequent enactment of the
Cottage City Commission, the classifications of property subject to
municipal taxation, with respect to those properties, businesses or
utilities located within the municipal boundaries of the Town of Cottage
City, shall be as follows:
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Property Classifications
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*Fiscal Year 2017 Rate/$100
|
|---|---|
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Commercial real property
|
$0.65
|
|
Noncommercial real property
|
$0.65
|
|
Business personal property
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$1.35
|
|
Public utility property
|
$0
|
|
(*NOTE: These rates were established by previous
legislation and are indicated herein for informational purposes only.
Prior to this chapter, which shall apply beginning in Fiscal Year
2018 (July 1, 2017), all real property has been taxed at the same
rate as one class without distinction as to commercial or noncommercial
real property.)
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Real property that is lawfully used or leased substantially
for residential dwelling purposes shall be classified as noncommercial
real property. All other real property shall be classified as commercial
real property. Property that is exempt from taxation shall remain
exempt regardless of classification by the Town.
The Town Manager or his designee shall notify the Special Assistant
to the Director of the Maryland State Department of Assessments and
Taxation of the action taken under the provisions of this chapter
as soon as possible, but no later than December 1, 2016.
The Town Manager or his designee shall coordinate with the State
Department of Assessments and Taxation of the requirement to obtain
constant yield tax rate certifications for the net assessable real
property base for the two separate classes of real property created
by this chapter, no later than February 1, 2017 and each year thereafter.
