Section 7-237 - Machinery or equipment used to generate electricity, steam for sale, hot or chilled water for sale. - Maryland Statutes

§ 7-237. Machinery or equipment used to generate electricity, steam for sale, hot or chilled water for sale.
 

(a)  Exempt from property tax.- Except as provided in subsection (b) of this section, personal property is exempt from property tax if the property is machinery or equipment used to generate: 

(1) electricity or steam for sale; or 

(2) hot or chilled water for sale that is used to heat or cool a building. 

(b)  Subject to county or municipal corporation property tax.- Subject to § 7-514 of this title, personal property that is machinery or equipment described in subsection (a) of this section is subject to county or municipal corporation property tax on: 

(1) 75% of its value for the taxable year beginning July 1, 2000; and 

(2) 50% of its value for the taxable year beginning July 1, 2001 and each subsequent taxable year. 
 

[1999, chs. 5, 6; 2000, ch. 526; 2007 Sp. Sess., ch. 2, § 4.]