Md. Code, Tax - Property § 7-240
This is the official text of Md. Code, Tax - Property § 7-240, part of Maryland’s Code, Tax - Property — governs property taxation.
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§7–240.
Official statutory text
Personal property is not subject to property tax if the property:
(1) is owned by a nonprofit organization that:
(i) is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and
(ii) is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and
(2) is used for the purposes of the organization.
(1) is owned by a nonprofit organization that:
(i) is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and
(ii) is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and
(2) is used for the purposes of the organization.
Status: in_force · Read it on the official government site
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