{"data":{"id":"us-md/md.-code-tax-property-9-316","jurisdiction":"us-md","citation":"Md. Code, Tax - Property § 9–316","heading":"","body":"(a) (1) In this section the following words have the meanings indicated.\n(2) “Commerce zone” means a priority funding area in Kent County designated by the governing body of Kent County as a commerce zone.\n(3) “New, improved, or expanded premises” means commercial or industrial real property, including a building or part of a building that has not been previously occupied, where a business entity locates to conduct business.\n(b) The governing body of Kent County may grant, by law, a property tax credit under this section against the county property tax imposed on real property owned by a business entity that meets the requirements specified under this section.\n(c) To qualify for a property tax credit under this section, a business entity shall obtain new, improved, or expanded premises in a commerce zone by:\n(1) purchasing newly constructed premises;\n(2) constructing new premises;\n(3) causing new premises to be constructed; or\n(4) improving existing premises for occupation by the business entity.\n(d) If a business entity meets the requirements under subsection (c) of this section, the property tax credit granted under this section shall equal a percentage of the amount of county property tax imposed on the assessment of the new, improved, or expanded premises, as follows:\n(1) 50% for each of the first 5 taxable years;\n(2) 25% in taxable years 6 and 7;\n(3) 15% in taxable years 8 through 10; and\n(4) 0% for each taxable year thereafter.\n(e) The governing body of Kent County may provide, by law, for:\n(1) the specific eligibility requirements for the tax credit authorized under this section;\n(2) any additional limitations on eligibility for the credit; and\n(3) any other provision necessary to implement the credit.","path":["Article - Tax - Property"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtp\u0026section=9-316","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:01:27Z","sha256":"5b78ceda79dac3b8038e59c8917fd66f73f3c1ec710a619b262fac6ee37cc085","source_id":"us-md","stale":false,"prev":"us-md/md.-code-tax-property-9-315","next":"us-md/md.-code-tax-property-9-317"},"notice":"GroundRules: Original legal text. Not legal advice."}