Downtown Martinsburg
Downtown Development District Tax Credit

 Downtown Business Tax Credit
Business & Occupation Tax

 

Effective
July 1, 2008

 

       The City Council of the City of Martinsburg has created the Martinsburg Downtown Development District (District) where, certain economic and tax incentives will be available to business and property owners in the District for the purpose of encouraging reinvestment in their real properties thus promoting the growth of the Martinsburg Downtown District.
 
       The Code of the City of
Martinsburg, Part Seven, Article 755, Section 755.03A, which authorizes the City’s Business & Occupation Tax, was amended to add the following provisions:

(a)  Designation of Martinsburg Downtown
        Development District.

      The District shall be bound by West Stephen Street extending west from the railroad right of way to Winchester Avenue, thence with Winchester Avenue to West John Street, thence west on West John Street to Porter Avenue, thence north on Porter Avenue to West King Street, thence east on West King to North Tuskeegee Drive, thence north on Tuskeegee Drive to West Race Street, thence east on West Race Street to North Maple Avenue, thence north on North Maple to Exchange Place, thence east on Exchange Place to the B&O Railroad right of way, thence in a southerly direction with the B&O Railroad right of way to where it intersects with the Tuscarora Creek, thence with the meanderings of the said Tuscarora Creek in general southerly direction to the southern intersection of said creek and the B&O Railroad right of way and thence continuing in a southerly direction with the said right of way to East John Street, thence west on East John Street to the railroad right of way, thence south with the right of way to the point of beginning. The District shall include all properties that abut the described boundary except for the properties that abut the easterly side of the B&O Railroad right of way or the Tuscarora Creek from Exchange Place to East John Street.

 

Downtown Development District Map

 

 (b)  Qualifying requirements and Amount of tax
         credit.

    (1)  Qualifying requirements.

          (i)  A business shall be deemed eligible which
     has its principal place of business physically
     located within the Martinsburg Downtown
     Development District.
  
       (ii) The credit may only be taken when an
     otherwise qualifying business files the required
     business and occupation tax return on or before
     the required due date.  If the return is not filed
     timely then the credit will be disallowed.

    (2)  Amount of tax credit.  Ten percent (10%)
    credit against the business & occupation tax
    liability.


(c)  Administration and enforcement.

      The administration is vested in, and shall be
exercised by, the Finance Director of the City, who
shall prescribe all necessary forms and returns.  The
Finance Director will promulgate all necessary rules
and regulations that are necessary for the making of
returns, and for the enforcement.


(d)  Forfeiture.

      If the business relocates outside of the Martinsburg Downtown Development District, the tax credit will be forfeited.

 

Tax Credit - Business & Occupation (B&O) Tax Quarterly Form