2013 Maryland Code
TRANSPORTATION
§ 6-411 - Payments in lieu of taxes


MD Transp Code § 6-411 (2013) What's This?

§6-411.

(a) The Administration shall make annual payments in lieu of taxes to the Mayor and City Council of Baltimore for the properties known as “McComas-A2”, “DMT-Bendix”, “Seagirt-Parcel B”, and “Toyota-Md. Ship”.

(b) The payments required under this section shall be:

(1) For fiscal year 1998, $410,000 in aggregate amount;

(2) For fiscal year 1999, $418,200 in aggregate amount; and

(3) For fiscal year 2000 and each subsequent fiscal year, the product of multiplying the applicable Baltimore City real property tax rate times the assessment of the land as determined under Title 8 of the Tax - Property Article, not including the assessment of any improvements, for each of the properties.

(c) Payments under this section shall be subject to such terms and conditions, if any, as may be provided by agreement between the Administration and Baltimore City.

Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.