Lake Arbor Foundation, Inc. Tax Credit

The Lake Arbor Foundation, Inc. Tax Credit is a property tax credit authorized under Maryland law for qualifying real property owned by Lake Arbor Foundation, Incorporated.

The credit is intended to support the Foundation's community development, educational, and cultural initiatives by reducing eligible Prince George's County property taxes and applicable special district taxes.

Eligibility Requirements

To qualify for the Lake Arbor Foundation, Inc. Tax Credit, all of the following requirements must be met:

• The real property must be owned by Lake Arbor Foundation, Incorporated.
• The property must be subject to Prince George's County property tax or special district tax.
• The property must not already be fully exempt from property taxation under the standard nonprofit exemptions provided in Title 7 of the Maryland Tax-Property Article.

Eligible Properties

The credit applies only to real property that:

• Is owned by Lake Arbor Foundation, Incorporated;
• Is subject to County property tax or special district tax; and
• Does not qualify for a full property tax exemption under Maryland law.

Important Information

• This is an entity-specific property tax credit authorized for Lake Arbor Foundation, Incorporated.
• The credit applies only to properties meeting the statutory ownership and taxation requirements.
• Properties that are already fully exempt from taxation under Maryland nonprofit exemption laws are not eligible for this credit.

Questions?

For additional information, please email the Office of Finance, Treasury Division at prop_tax_credits@co.pg.md.us

Authority

• County Bill CB-7-2001
• Section 9-318(c), Annotated Code of Maryland