Section 7-246 - Property Tax Inapplicable to Certain Improvements or Interests in Real Property

(a) In this section, 'Laurel Park racing facility site' and 'Pimlico racing facility site' have the meanings stated in § 10–601 of the Economic Development Article. (b) An interest of a person in an improvement at the Laurel Park racing facility site or Pimlico racing facility site or an interest of a person in the real property of the Laurel Park racing facility site or Pimlico racing facility site is not subject to property tax for the duration of: (1) with respect to the Pimlico racing facility site, the long–term agreement described under § 10–646.1(d)(2)(i) of the Economic Development Article; or (2) with respect to the Laurel Park racing facility site, the long–term agreement described under § 10–646.1(d)(2)(ii) of the Economic Development Article.