Development, Revitalization Tax Credit Eligibility by Census Tract: Prince George's County, Maryland Full Details

Full Details

Title:

Development, Revitalization Tax Credit Eligibility by Census Tract: Prince George's County, Maryland

Description:

Revitalization/Redevelopment tax credits encourage redevelopment and investment in inner-beltway communities of Prince George's County, based on CB74-2012. The credits are available in all census tracts inside the Beltway where the median household income does not exceed the County's median. Eligible improvements to real property located within these districts shall be allowed a tax credit on County real property taxes. For the first tax year following the year in which the improvements are completed and assessed, non-residential improvements receive a tax credit for 100% of the amount of the County property tax imposed on the increased assessment. The tax credit is reduced to 80% in the second tax year, 60% in the third year, 40% in the fourth year, and 20% in the fifth year. Residential improvements for the first tax year following the year in which the improvements are completed and assessed, receive a tax credit of 100% of the amount of the County property tax imposed on the increased assessment. The tax credit is reduced to 66% in the second tax year, and 33% in the third year. The maximum amount of eligible residential improvements is $100,000 per dwelling unit.

Creator:

The Maryland-National Capital Park & Planning Commission - Prince George's County

Provider:

Prince George's County GIS Open Data

Resource Class:

Datasets

Resource Type:

Vector data

Subject:

Census and Intergovernment records

Theme:

Property

Date Issued:

2013-05-13

Place:

Maryland--Prince George's County, Maryland

Access Rights:

Public

Format:

Shapefile

Language:

English

Date Added:

2021-04-27