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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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TAX - PROPERTY |
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TITLE 7. PROPERTY TAX EXEMPTIONS |
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SUBTITLE 5. COUNTY EXEMPTIONS -- OPTIONAL; PAYMENTS IN LIEU OF TAXES |
§ 7-504.4. Hippodrome Performing Arts Center
Latest version.
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(a) Definitions. --
(1) In this section the following words have the meanings indicated.
(2) "Hippodrome Performing Arts Center facility" means the Hippodrome Performing Arts facility as defined in § 10-601 of the Economic Development Article.
(3) "Hippodrome Performing Arts Center site" means the Hippodrome Performing Arts site as defined in § 10-601 of the Economic Development Article.
(b) Requirements for exemption. -- The Hippodrome Performing Arts Center site and the Hippodrome Performing Arts Center facility are subject to property taxes unless:
(1) such properties are used principally as a performing arts center; and
(2) the owner of such properties and the Baltimore City Board of Estimates agree on a payment that the owner shall make to Baltimore City in lieu of Baltimore City real property taxes.