[RP TownTalk] Budget and taxation

[Gerard Kiernan]

University of Maryland property as government owned property is tax exempt.

When M-Square was first proposed, the land was to be privately owned and
developed.  UMCP then decided to buy the land in order to accelerate the
development.  The Town was, of course, worried about losing the revenue from
the largest open industrial zoned piece of land inside the Beltway.

The University decided that while the land would remain on the state's
rolls, all of the buildings, including the World Weather Building, would be
privately owned and leased to the tenants, including NOAA.

Thus, the Town will receive property taxes on the value of the improvements,
but not the land.

Gerry Kiernan   

> From: "Dwight Holmes" <dwightrholmes at gmail.com>
> Date: Wed, 16 May 2007 21:08:55 -0400
> To: TownTalk <towntalk at riverdale-park.org>
> Subject: Re: [RP TownTalk] Budget and taxation
> 
> Question: Is university (public) property subject to town and county
> property taxes?
> 
> On 5/16/07, Rob Oppenheim <rob.oppenheim at comcast.net> wrote:
>> We are now in a declining revenue period, so it is time to tighten
>> up and reduce spending. Wait for an expanding revenue period
>> (like when M-Square comes on line) to expand government.
> 
> -- 
> ~~
> Map of Riverdale Park MD Trolley Hiker-Biker Trail and Cafritz Property
> http://tinyurl.com/2wsfql
> ~~
> Tracking the Washington Nationals' 2007 season (will they catch the '62
> Mets?):
> http://tinyurl.com/2m6f43
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