Business Incubator Property Tax Credit
The Business Incubator Property Tax Credit encourages economic development by reducing the County property tax burden on buildings used as approved business incubators.
The credit supports facilities that provide affordable space, shared resources, and business development services to early-stage companies.
Credit Amount
The credit applies to the County portion of the real property tax on qualifying business incubator space.
The credit is available on a 5-year declining schedule:
| Tax Year | Credit Amount |
|---|---|
| Year 1 | 100% |
| Year 2 | 80% |
| Year 3 | 60% |
| Year 4 | 40% |
| Year 5 | 20% |
Note: If only a portion of a building is used as an approved business incubator, the credit is prorated based on the square footage dedicated to the incubator program.
Eligibility Requirements
To qualify for the Business Incubator Property Tax Credit, the property must operate as an approved business incubator.
An eligible business incubator must:
- Lease space to multiple early-stage businesses.
- Provide shared common areas, administrative services, and equipment for tenant businesses.
- Offer business management training, mentoring, and technical assistance to participating businesses.
Eligible Properties
The credit applies to:
- Buildings, or portions of buildings, used as approved business incubator facilities.
- Property dedicated to supporting startup and early-stage businesses through a structured incubation program.
Important Information
- The credit applies only to the County portion of the real property tax.
- If only part of a building is used for an approved business incubator, the credit is limited to the eligible square footage.
- Standard office buildings or co-working spaces do not qualify unless they meet the statutory requirements of an approved business incubator program.
How to Apply
Applications must be submitted to:
Prince George's County Office of Finance
Treasury Division
Questions?
For additional information, please email the Office of Finance, Treasury Division at prop_tax_credits@co.pg.md.us
Authority
- County Bill CB-64-2010
- Maryland Tax-Property Article, § 9-247
- Prince George's County Code, Subtitle 10, Section 10-235.07
Apply for Property Tax Credit - Business Incubator (PDF)
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