[HISTORY: Adopted by the Mayor and Council of the City of Taneytown
as indicated in article histories. Amendments noted where applicable.]
[Adopted 4-10-1995 by Ord.
No. 10-95 (Title 2, Ch. 3, Art. A, Sec. 2-3-3 of the 1980 Code)]
A.Â
In addition to interest provided pursuant to the Charter
of the city, a penalty for overdue taxes not paid by October 1 or, in the
case of half-year assessments, by March 1 in the amount of 1Â 1/3% for
each month or fraction thereof shall be imposed and collected.
B.Â
In addition to the penalty provided in this section,
for all taxes overdue and in arrears, including any interest and penalties
as hereinabove set forth, on or after March 1 of each year following the year
in which taxes are levied, or September 1 in the case of half-year assessments,
there shall be charged an additional 25% of the entire outstanding amount
overdue, both taxes, interest and penalties, which is imposed as a collection
penalty.
[Adopted 12-8-1997 by Ord.
No. 4-97 (Title 2, Ch. 3, Art. A, Sec. 2-3-4 of the 1980 Code)]
Pursuant to the authorization contained in § 9-229 of the
Tax Property Article of the Annotated Code of Maryland, the City of Taneytown,
Maryland, elects to participate in the Brownfields Revitalization Incentive
Program established under Title 3, Subtitle 9 of Article 83A of the Annotated
Code of Maryland and to provide a brownfields property tax credit for the
taxable year July 1, 1998.
There is a City of Taneytown brownfields property tax credit against
the tax on real property of a qualified brownfields site, as defined in § 3-901(d)
of Article 83A of the Annotated Code of Maryland, in an amount equal to 70%
of the property tax attributable to the increase in the assessment of the
qualified brownfields site, including improvements added to the site before
the voluntary cleanup or corrective action plan.
A.Â
The credit shall apply in each of the five taxable years
immediately following the first revaluation of the property after completion
of a voluntary cleanup or corrective action plan of a qualified brownfields
site.
B.Â
The credit is subject to the requirements and limitations
set forth in § 9-229 of the Tax-Property Article of the Annotated
Code of Maryland.
Pursuant to the requirement contained in § 9-229(e) of the
Tax-Property Article of the Annotated Code of Maryland, for each year of the
credit period, the City of Taneytown shall contribute to the Brownfields Revitalization
Incentive Fund under § 3-904 of Article 83A of the Annotated Code
of Maryland an amount equal to 30% of the property tax attributable to the
increase in the assessment of the qualified brownfields site during the credit
period over the assessment of the qualified brownfields site before the voluntary
cleanup or corrective action plan.