MD leaders pushing a property tax credit bill for developers in Wicomico County
WICOMICO COUNTY, Del.- The Property Tax Credit Bill was heard in the Maryland General Assembly this week for Wicomico County.
Senator Addie Eckardt said if passed this bill would allow a city, like Salisbury, or a municipality in the county to give property tax relief to developers that are building hotels or residential development projects.
Senator Eckardt said right now the city has to go through the state to grant a property tax credit.
We are told passing this bill is important because the pandemic has slowed things down, so this incentive that the bill brings could jump start projects for developers again.
“It’s a decision and a tool in the tool box for economic development,” Sen. Eckardt, said. “It reduces the amount of property tax that are paid and of course that makes a big difference when you’re putting a project together.”
This bill is crossfiled with a bill in the House, and that bill will be heard March 2nd.