Property Tax - Improvements to Property Adjacent to Rail Stations - Subclass, Special Rate, and Penalty

HB 330 allows Baltimore City or Maryland counties to create a special property tax rate for improvements on land within 1 mile of a rail station (including existing or planned MARC, Metro SubwayLink, or Light Rail stations). This special rate applies only to properties near rail stations and cannot exceed the standard county tax rate. Property owners in this category would also face a tax penalty, with 50% of the penalty revenue going to the state Transportation Trust Fund and 50% to the local government. The bill requires local governments to report annually on the special rate’s impact, including revenue changes and property usage.