St. Mary's County Commissioners Meeting Agenda Jan 2026
KIHOMAC Granted Ten-Year Property Tax Incentive
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Description
The Commissioners of St. Mary's County approved a Property Tax Challenge agreement granting KIHOMAC Inc. a property tax credit of up to 25% for ten years on its Lexington Park office property. The credit supports an estimated $1–1.5 million investment in structural repairs, renovations, sidewalks, and landscaping.
Contract Details
Contract Amount
Property tax credit not to exceed 25% of property tax for ten-year period
Vendor
KIHOMAC INC
Agency
St. Mary's County, MD
Contract Type
FINANCIAL_SERVICES
Document Date
January 6, 2026
Contract Term
Ten-year property tax credit period from date of award
Renewal Info
Program provides a fixed ten-year tax credit period for investments over 15% of assessed value; no renewal beyond the initial ten-year term is indicated.
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