Conservation Property
Tax Credits (CPTC) granted on Maryland
Environmental Trust or Maryland Department
of Natural Resources easements will be
handled as an assessment credit to the
real property account. The amount of
assessment credit associated with the
easement will be deducted from the total
assessment to determine the net taxable
assessment for tax billing.
Although the CPTC
is a credit and not an exemption, the
credit amount must be entered into the
APartial Exempt@ assessment fields
in the data system for state, county,
and municipal (if applicable). An Exempt
Code of 030 will also be entered into
the partial exempt fields to identify
the account as receiving a CPTC. These
same keying instructions occur regardless
if the credit is for the total parcel
or just a portion of it.
The Land Use Code
does not change because of the CPTC.
It=s determined in
the normal fashion with the credit having
no influence on the Land Use Code. It
should not be assigned an exempt Land
Use Code based solely on the property
receiving a CPTC.
By following the
above guidelines the property will receive
the proper assessment credit, and be sent
assessment notices.
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