Section 7-222 - Personal property - Business stock property.
§ 7-222. Personal property - Business stock property.
(a) General exemption.- Except as provided in § 7-109 of this title and in subsection (b) of this section, the stock in business of a person engaged in a manufacturing or commercial business is not subject to property tax.
(b) County exceptions.- Except as provided by § 7-108 of this title, the personal property described in subsection (a) of this section is subject to a county property tax on 35% of its assessment in Wicomico County.
[An. Code 1957, art. 81, § 9A; 1985, ch. 8, § 2; 1988, ch. 6, § 1; 1998, ch. 14.]