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(A) Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning:
GATEWAY. Maryland Route 140 Corridor through Finksburg from the Baltimore County line to the east side of the intersection of Sandymount Road and Maryland Route 140, including those properties that have direct road frontage onto Maryland Route 140 and those properties that are directly adjacent and contiguous to the properties with direct road frontage onto Maryland Route 140.
IMPROVEMENTS. Renovation, upgrade, or rehabilitation of exterior facade, including but not limited to windows, veneers, painting, new roof, or landscaping or other physical exterior site improvements that significantly improve the visual appearance of the site such as new signage, lighting, sidewalks or pedestrian plazas. Also, development of commercial or industrial uses on a parcel in the gateway zoned C-1, C-2, C-3, I-1, and I-2.
(2004 Code, § 209-37)
(B) Eligibility and amount of credit.
(1) A property tax credit granted under this section may only be granted to a property that is principally used for business, commercial, or industrial purposes.
(2) A property tax credit granted under this section may only be granted for taxes levied on real property in the gateway.
(3) A property tax credit may only be granted for improvements made to a property that significantly improve the overall appearance or use of the property.
(4) For improvements made to existing structures, the amount of property tax credit available shall be based on the percentage of improvement cost compared to the current assessed value of the property. A 75% tax credit for a period up to five years shall be available if the improvement costs spent on the property are in excess of 25% of the assessed value of the property. If the improvement costs spent are 25% or less of the assessed value of the property, the credit available is 50% for a period of up to five years. A time frame of three years from the first improvement cost shall be allowed in order to accumulate total investment for purposes of this calculation. Credit will extend five years from last investment.
(5) For new developments made on a parcel, the amount of property tax credit available shall be based on the percentage of improvement costs (related to facade and frontage appearance) compared to the current assessed value of the property. A 50% tax credit for a period up to five years shall be available if the improvement costs spent on the property are in excess of 50% of the assessed value of the property.
(6) The tax credit shall be calculated and credited based on the total real property tax levied by the county.
(7) The total value of the available tax credit shall not exceed the total improvement costs.
(2004 Code, § 209-38)
(C) Administration. This section shall be administered by the Department of Economic Development, Department of Management and Budget, and the Department of the Comptroller, or their successor agencies. Further, the Departments are hereby authorized to promulgate any necessary rules and regulations that may be required to administer this tax credit.
(2004 Code, § 209-39)
(a) All applications for the tax credit administered under this section shall be submitted in a form approved by the Department of the Comptroller, or the successor agency, and signed by the property owner under oath and under penalty of perjury.
(b) Applications must be submitted prior to the start of improvements being made and no application shall be granted or tax credits available until improvements are complete.
(c) All applications shall include tax map and parcel to show eligibility within a gateway; recent photograph(s) of the property; a detailed description of the improvement including sketches, digital or conceptual drawings; and a detailed summary of the capital investment for the improvements.
(d) All applications for a tax credit under this section must be submitted on or before May 1 immediately before the first taxable year for which the tax credit is sought.
(e) If an application is filed after May 1, the credit shall be disallowed for that year but shall be treated as an application for a tax credit for the next succeeding taxable year.
(a) A person who knowingly submits a false or fraudulent application, or withholds information, to obtain a tax credit under this section must repay the county for all amounts credited and all accrued interest and penalties that would apply to those amounts as overdue taxes and, in addition, is subject to all fines and other penalties as may be provided by law.
(b) The county may enforce this section by appropriate legal action.
(c) A person who violates this section is liable for all court costs and expenses of the county in any civil action brought by the county against the violator.
(2004 Code, § 209-40)
(Ord. 08-04, passed 5-13-2008; Ord. 2019-09, passed 12-12-2019) Penalty, see § 33.99