Incentives

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The following incentives are offered to artists and Arts & Entertainment enterprises in the proposed District:

  1. The income tax subtraction modification under 10-207(v) of the Tax-General Article for qualifying residing arts in the District
     
  2. During the entire designation period approved by the Secretary, exemption from the Admission and Amusement Tax gross receipts from any admissions or amusement charge levied by an arts and entertainment enterprise or qualifying residing artist in the District; and
     
  3. During the entire designation period approved by the Secretary, a real property tax credit further described in §9-240 of the Tax-Property Article against the Cecil County property tax imposed on the eligible assessment of an eligible building. The real property tax credit amount shall be the following percentage of the amount of property tax imposed on the eligible assessment of the property entitled to the credit:
    1. 80% in each of the first five (5) taxable years after the calendar year when the property initially is entitled to the credit;
    2. 70% in the 6th taxable year;
    3. 60% in the 7th taxable year;
    4. 50% in the 8th taxable year;
    5. 40% in the 9th taxable year; and
    6. 30% in the 10th taxable year