1098 LAWS OF MARYLAND [CH. 592
CHAPTER 592
(Senate Bill 145)
AN ACT to repeal and re-enact with amendments Section
14 of Article 81 of the Annotated Code of Maryland
(1951 Edition), title "Revenue and Taxes", sub-title
"Methods of Assessment", relating to the assessment of
stock in business in Harford County and Queen Anne's
County. ALLEGANY, ANNE ARUNDEL, CALVERT,
CAROLINE, CARROLL, DORCHESTER, GARRETT,
HARFORD, KENT, MONTGOMERY, PRINCE ERSET
TALBOT, MONTGOMERY, QUEEN ANNE'S, SOM-
ERSET AND WORCESTER COUNTIES. AND IN THE
CITY OF ANNAPOLIS., AND RELATING ALSO TO
THE ASSESSMENT OF STOCK IN BUSINESS FOR
THE PURPOSES OF THE EQUALIZATION FUND
AND INCENTIVE FUND PROVIDED FOR IN ARTI-
CLE 77 OF THIS CODE IN SAID COUNTIES
SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 14 of Article 81 of the Annotated Code of
Maryland (1951 Edition), title "Revenue and Taxes", sub-
title "Methods of Assessment", be and the same is hereby
repealed and re-enacted with amendments, to read as
follows:
14. The stock in business of every person, firm or corpor-
ation engaged in any manufacturing of commercial busi-
ness in this State shall be valued and assessed to the owner
thereof on the date of finality at its fair average value for
the twelve months preceding the date of finality, but in the
computation of the fair average value of the stock in
business of registered motor vehicle dealers, the value of
used motor vehicles, titled in Maryland and taken in trade
by such dealers as partial payments on the purchase of
other motor vehicles, shall be excluded. Provided, however,
that for county taxation in Anne Arundel County MONT-
GOMERY and Frederick County, and for municipal taxa-
tion in the City of Frederick AND IN THE CITY OF
ANNAPOLIS such stock in business shall be assessed at
seventy-five per centum (75%) of such fair average value
for the twelve months preceding the date of finality. For the
purpose of county taxation in Harford County and Queen
Anne's County ALLEGANY, ANNE ARUNDEL, CAL-
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EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.
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