§ 7-222. Personal property -- Business stock property

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(a) General exemption. -- Except as provided in § 7-109 of this title and in subsection (b) of this section, the stock in business of a person engaged in a manufacturing or commercial business is not subject to property tax.

(b) County exceptions. -- Except as provided by § 7-108 of this title, the personal property described in subsection (a) of this section is subject to a county property tax on 35% of its assessment in Wicomico County.

HISTORY: An. Code 1957, art. 81, § 9A; 1985, ch. 8, § 2; 1988, ch. 6, § 1; 1998, ch. 14.

                    
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