In an effort to promote redevelopment and revitalization of the Finksburg MD 140 commercial corridor, Carroll County offers a Gateway Tax Credit program. The county recognizes that redevelopment can be a costly and difficult process to undertake. The Gateway Renovation Tax Credit program acts as a catalyst to encourage eligible property owners to visually enhance their properties.
The tax credit is only granted for improvements that significantly improve the overall appearance of the property. The tax credit is based on the percentage of the improvement cost compared to the current assessed value of the property. Tax credits can be available for up to five years.
Eligible properties are those zoned for commercial or industrial use and located on or adjacent to the MD 140 corridor, from the Carroll County line to Sandymount Road. Qualified improvements can include improvements to the exterior façade, landscaping or other physical exterior site improvements such as signage, lighting, sidewalks and pedestrian plazas.
The ordinance is available for viewing here or contact Paige Sunderland, Business Development Manager, at firstname.lastname@example.org.