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Terms Used In Maryland Code, TAX - PROPERTY 9-231

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County: means a county of the State or Baltimore City. See
  • Personal property: All property that is not real property.
(a) In this section, “foreign trade zone” means a foreign trade zone or subzone established under federal law.

(b) The governing body of a county or municipal corporation may grant, by law, a property tax credit against the county or municipal property tax imposed on personal property, other than operating personal property of a public utility, if the personal property is located in a foreign trade zone that is within that county or municipal corporation.

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