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MD SB224
MD SB224Property Taxes - Authority of Counties to Establish a Subclass and Set a Special Rate for Commercial and Industrial Property
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Authorizing the Mayor and City Council of Baltimore City or the governing body of a county to establish, by law, a subclass of real property consisting of certain commercial and industrial property and to set a special property tax rate for certain commercial and industrial property for the purpose of financing certain transportation improvements or the approved budget of the county board of education; applying the Act to all taxable years beginning after June 30, 2026; etc.
AI Summary
This bill allows counties and Baltimore City to create a special property tax subclass for commercial and industrial properties, including those with mixed commercial/residential use, and to set a special tax rate for them. This special rate can be used to fund transportation improvements within a special taxing district or to support the county's approved budget for its Board of Education. The special rate, which cannot exceed 12.5 cents per $100 of assessed value for both purposes combined, will be in addition to the general property tax rate. For mixed-use properties, counties must either provide a credit or an exemption for the residential portion, which can be calculated based on square footage, income, or other reasonable methods, and will be automatically granted if sufficient public records exist. The bill also allows for a property tax credit for small businesses with 15 or fewer employees that are subject to this special rate.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Budget and Taxation Hearing (10:00:00 1/21/2026 ) (on 01/21/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0224?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/sb/sb0224f.pdf |
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