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

MD Tax-Prop Code § 7-237 (2019) (N/A)
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(a)    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 § 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.