# Tax - Property (GTP)

## Title 6. Taxable Property; Imposition of Tax; Setting Tax Rates

### Subtitle 1. Taxable Property

#### Section 6-101

(a)

  (1) Except as otherwise provided in this article, all property located in this State is subject to assessment and property tax and is taxable to the owner of the property.

  (2) Property subject to assessment and tax under this article includes property owned or leased by the United States or any agency or department of the United States, to the fullest extent possible under the Constitution of the United States and the laws of the United States.

(b) Intangible personal property is not subject to assessment and property tax.

#### Section 6-102

(a) Except as otherwise provided in this section, a leasehold or other limited interest in property is not subject to property tax.

(b) An interest of a life tenant or the owner of any other freehold estate in property is subject to property tax as though the person in possession or the user of the property were the owner of the property.

(c) An interest of the mortgagor, pledgor, or conditional sale buyer in personal property is subject to property tax as though the person in possession or the user of the personal property were the owner of the personal property.

(d) The following interests in real property are subject to property tax as though the person in possession or the user of the property were the owner of the property:

  (1) an interest of a tenant under a 99-year lease, whether or not the lease is renewable;

  (2) an interest of a tenant under a lease for less than 99 years, if the lease is perpetually renewable; and

  (3) an interest of a mortgagor or grantor under a deed of trust.

(e) Unless exempted under Sec. 7-211, Sec. 7-211.1, Sec. 7-244, Sec. 7-246, or Sec. 7-501 of this article, the interest or privilege of a person in property that is owned by the federal government, the State, a county, a municipal corporation, or an agency or instrumentality of the federal government, the State, a county, or a municipal corporation is subject to property tax as though the lessee or the user of the property were the owner of the property, if the property is leased or otherwise made available to that person:

  (1) by the federal government, the State, a county, a municipal corporation, or an agency or instrumentality of the federal government, the State, a county, or a municipal corporation; and

  (2) with the privilege to use the property in connection with a business that is conducted for profit.

#### Section 6-103

Operating property of a railroad or public utility located in the State is subject to property tax.

#### Section 6-104

Except as otherwise provided in Sec.Sec. 7-222, 7-226, and 7-226.1 of this article, any stock in business of a person who engages in a manufacturing or commercial business in the State is subject to property tax.

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Md. Code Ann., Tax-Prop. (as displayed at mgaleg.maryland.gov, October 16, 2026)