Md. Code, Tax - Property § 7-505

(a) (1) In this subsection, “service facilities” includes nondwelling commercial and community facilities, community rooms, dining halls, and infirmaries.

(2) Except in Baltimore City, real property is exempt from county and municipal corporation property tax if:

(i) the real property is owned by a person engaged in constructing or operating housing structures or projects;

(ii) the real property is used for a housing structure or project that:

1. is constructed or substantially rehabilitated under a federal, State, or local government program that:

A. funds construction or insures its financing; or

B. provides interest subsidy, rent subsidy, or rent supplements; and

2. is substantially completed after July 1, 1978;

(iii) the structures and facilities of the real property are governmentally controlled as to rents, charges, rates of return, and methods of operation so that the real property operates on a nonprofit or limited distribution basis; and

(iv) the owner and the governing body of the county and, where applicable, municipal corporation where the real property is located agree that the owner shall pay a negotiated amount in lieu of the applicable county and municipal corporation property tax.

(3) If the structure and facilities of the real property are used predominantly for residential purposes, the real property may contain service facilities to serve its occupants and the surrounding neighborhood.

(b) Real property described in subsection (a) of this section is exempt when the requirements of subsection (a) of this section are met.