[Adopted 10-17-2017 by Bill No. 2017-4[1]]
[1]
Editor's Note: This bill also repealed former Art. XII, Personal
Property Tax Credit, adopted 5-10-2005 by Bill No. 2005-4.
Pursuant to the authorization contained in § 7-510
of the Tax-Property Article of the Annotated Code of Maryland, the
County may exempt by law one or more classes of personal property
from the County property tax imposed on personal property.
Except for the operating personal property of
a public utility and machinery and equipment that is used to generate
electricity for sale and any other class of property enumerated in
this chapter, the assessment of personal property in Caroline County
is subject to County property tax on 0% of its value.
A.
Pursuant to the authorization contained in § 7-514 of the
Tax-Property Article, Annotated Code of Maryland, the County may establish,
by law, the percent of the assessment of any personal property described
in § 7-237 of the Tax-Property Article that is subject to
County property tax.
B.
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, 2018, and each subsequent taxable
year.
