Enterprise Zone Tax Credit
A 10-year real property tax credit for nonresidential businesses and property owners that locate or expand in designated Enterprise Zones in Montgomery County — specifically in downtown Silver Spring, Wheaton, Gaithersburg (Olde Towne), and Takoma Park/Long Branch. Offered by Montgomery County Department of Finance, Division of Treasury.
Key Facts
- Funder
- Montgomery County Department of Finance, Division of Treasury
- Award amount
- Not specified by funder
- Deadline
- Rolling / not specified
- Geography
- Maryland
- Categories
- Community Development
- Status
- Open
About This Grant
A 10-year real property tax credit for nonresidential businesses and property owners that locate or expand in designated Enterprise Zones in Montgomery County — specifically in downtown Silver Spring, Wheaton, Gaithersburg (Olde Towne), and Takoma Park/Long Branch. The credit is based on the increase in property assessment compared to the base year (the year before new construction or refurbishing) and declines over a 10-year period. Businesses may also qualify for a State income tax credit...
Full requirements and application instructions: official listing.
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