MD SB847

Authorizes Wicomico County and municipal corporations within the county to grant property tax credits on real property owned by Salisbury Neighborhood Housing Services, Inc.

Eligible properties must be held with the intention of relinquishing ownership in the near future and used for development, rehabilitation, and transfer to private owners

Administrative or warehouse buildings owned by the organization are excluded from the tax credit

Salisbury Neighborhood Housing Services, Inc. must submit annual written reports documenting all real property holdings and transactions in the jurisdiction granting the credit

Takes effect June 1, 2026, applicable to taxable years beginning after June 30, 2026