(A) That subclass of personal property set forth in the Md. Code Ann., Tax-Property Article, § 8-101(c)(6), specifically being "machinery and equipment, other than operating personal property of a public utility, that is used to generate (i) electricity or steam for sale; or (ii) hot or chilled water for sale that is used to heat or cool a building" is subject to property tax.
(B) Pursuant to the authority granted by the Md. Code Ann., Tax-Property Article, § 6-202, property tax is imposed upon the assessment of that personal property identified in subsection (A) above.
(C) Further pursuant to the authority granted by the Md. Code Ann., Tax-Property Article, § 7-514, the percent of assessment for personal property described in Tax-Property Article, § 7-237, that is subject to Frederick County personal property tax shall be 65% for the taxable year beginning July 1, 2008; 60% for the taxable year beginning July 1, 2009; 55% for the taxable year beginning July 1, 2010; and thereafter the maximum percent of assessment allowed by state law.
(Ord. 08-04-480, 2-14-2008; Ord. 14-23-678, 11-13-2014)