258           Laws of Maryland          [Ch. 34

(28) When used in connection with direct taxes, the
word "appraisal" shall mean the valuation of property
preparatory to its assessment.

Sec. 2. And be it further enacted, That

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IT IS hereby repealed and re-enacted,
with amendments, to read as follows:

11. (a) Except as hereinafter provided, all property
directed in this Article to be assessed, shall be assessed at
the full cash value thereof on the date of finality. Any
assessment existing on June 1, 1929, or thereafter made,
shall continue in force from year to year until changed
pursuant to the provisions of this Article.

[Except as to property assessable by the State Tax
Commission in its original jurisdiction: From and after
the date of finality following on or next preceding January
1, 1954, or in any county or Baltimore City all property
directed in this Article to be assessed shall be appraised
and assessed at such value as would have been the full
cash value thereof on the date of finality falling on or
next preceding January 1, 1954 until completion of the
first full cycle of reappraisals in the county involved, or
in Baltimore City, as the case may be, pursuant to Section
175 (8) (b) of this Article, and thereafter all property
directed by this Article to be assessed in such county or
city, as the case may be, shall be appraised and assessed
at such value as would have been the full cash value thereof
on the date of finality terminating or next following the
completion of the last preceding cycle of re-appraisals in
such county or city under Section 175 (8) (b) of this
Article. ]

(b) From and after January 2, 1954, all property di-
rected in this Article to be assessed shall be assessed
annually on the date of finality in the following manner:

(1) For those annual assessments which occur between
January 2, 1954, and the completion of the first full cycle
of appraisals in the county involved or Baltimore City, as
the case may be, pursuant to Section 175 (8) (b) of this
Article, all such property shall be assessed at such value
as would have been the full cash value thereof on the date
of finality falling on or next preceding January 1, 1954,
as if such property had existed on such date of finality