# Sec. 10-195. Tax Deferral on certain CDZ and I-3 land

Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.

## Sec. 10-195. Tax Deferral on certain CDZ and I-3 land

Prince George's County, Md., Code § 10-195 (2026)

(a) Pursuant to the authority of Section 10-202, Tax-Property Article, Annotated Code of Maryland, property zoned M-A-C, L-A-C, E-I-A, and I-3 shall have any increased assessment due to the rezoning deferred for a period of five (5) years under the following conditions:

  (1) The deferral is limited to that portion of the property designated for industrial or commercial use or a combination thereof which contains twenty-five (25) or more acres undeveloped and which is a remaining portion not proposed for development or use under an outstanding building permit.

  (2) The deferral shall terminate upon the issuance of a building permit for that portion covered by the permit and for the entire tract when the undeveloped portion is less than twenty-five (25) acres.

  (3) The deferral shall terminate upon the grant of a rezoning requested by the owner or agent, to a zoning classification not eligible for the tax deferral, and any tax deferred shall immediately be due and payable with interest.

  (4) Upon the issuance of a building permit or the termination of the five (5) year deferral period, whichever occurs first, the full amount of the taxes deferred shall become due and payable with interest.

(b) Applications for the deferral of taxes under this Section shall be filed with the Director of Finance on forms supplied for that purpose.

(c) Upon the termination of the deferral, the property owner may elect in writing to pay the taxes and interest thereon in annual installments over a period not to exceed five (5) years.

(d) The annual interest rate on taxes deferred shall be calculated at twelve percent (12%) or at a rate equal to two percent (2%) below the "average prime rate" of interest as calculated below, whichever is less. The average prime rate of interest shall be the average of the prime rates of interest in effect on both the day the application for deferral was filed with the Director and the day on which the taxes so deferred become due. The prime rate of interest shall be the prime rate as published by the Wall Street Journal in the column titled "Money Rates."

(e) Deferred taxes shall constitute and remain a lien on the entire tract until paid or released by the Director of Finance. The Director may release a portion of the tract from the lien upon payment of a prorated amount equal to the taxes and interest due on the portion released.

(f) The provisions of this Section do not apply to any real property located within a tax increment district established pursuant to Title 5, Article 83A, Annotated Code of Maryland.