(a) The council is hereby authorized, beginning with the fiscal year 1968-69, to levy and cause to be collected annually special taxes in the nature of ad valorem taxes not to exceed the following amounts on the described property within each district:
(1) A tax of one dollar ($1.00) on each one hundred dollars ($100.00) of assessed value of real property, including both the value of the improvements, if any, and the value of the land, which is used in whole or in part for commercial, industrial or general business purposes, and a similar tax of one dollar ($1.00) on each one hundred dollars ($100.00) of assessed value of all tangible personal property located on such land or within such improvements.
(2) A tax of fifty cents ($0.50) on each one hundred dollars ($100.00) of assessed value of real property, including both the value of the improvements, if any, and the value of the land, which is not used for commercial, industrial or general business purposes, but which is classified, or shown on any zoning plan or master plan adopted by the Maryland-National Capital Park and Planning Commission as recommended for classification, in a zone permitting a commercial, industrial or general business use; provided, that any tax levied under this paragraph (2) shall not exceed one-half of the tax levied under paragraph (1) above, and provided further that no such tax shall be levied on any property which on the effective date of this chapter is improved by a residence of permanent construction so long as such property is used exclusively for nontransient residence purposes.
(b) As used in subsection (a) above the phrase "used for commercial, industrial or general business purposes" shall include any property which is designed for or devoted to such use.
(c) The classification of property in a zone, as the phrase is used in subsection (a) above, refers to the classification of property under chapter 85 of this Code and all ordinances and regulations adopted thereunder, as now or hereafter amended.
(d) Except as otherwise provided in this chapter, the special taxes authorized in this section shall be levied and collected, have the same standing and priority, bear the same interest and penalties, and in every respect be treated the same as ordinary taxes.
(e) Railroad yards and rights-of-way, other than passenger stations, shall be exempt from the taxes prescribed by this section. (Mont. Co. Code 1965, § 44-3; 1967 L.M.C., ch. 4, § 1; 1970 L.M.C., ch. 27, § 1.)