1778                               Laws of Maryland                        [Ch. 700

CHAPTER 700
(House Bill 451)

AN ACT to add new Section 14(e) 232(8) (C) to Article 81 of the
Annotated Code of Maryland (1969 Replacement Volume) and
1971 Supplement), title "Revenue and Taxes," subtitle "Method el
Assessment," STATE DEPARTMENT OF ASSESSMENTS AND
TAXATION," to follow immediately after Section 14(b) 232(8)
(B) thereof, to provide that where real estate property has not
been re-assessed within a certain time, and re-assessment being
made cannot be in excess of more than a certain percent of the
last prior assessment AND TO REPEAL AND RE-ENACT WITH
AMENDMENTS SECTION 32 OF ARTICLE 81 OF THE AN-
NOTATED CODE OF MARYLAND (1969 REPLACEMENT
VOLUME AND 1971 SUPPLEMENT), TITLE "REVENUE
AND TAXES," SUBTITLE "LEVY," TO REQUIRE PHYSICAL
INSPECTION FOR REASSESSMENT WITHIN A CERTAIN
PERIOD, TO PROVIDE FOR PHASING IN AN AMOUNT OF
AN INCREASE IN ASSESSMENTS UNDER CERTAIN CIR-
CUMSTANCES AND, TO PROVIDE THAT ANY COUNTY OR
BALTIMORE CITY MAY ESTABLISH A SYSTEM FOR DE-
FERRING TAX PAYMENTS UNDER CERTAIN CONDITIONS
AND GENERALLY RELATING THERETO.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 14(c) 232(8)(C) be and it is hereby added to
Article 81 of the Annotated Code of Maryland (1969 Replacement
Volume) and 1971 Supplement), title "Revenue and Taxes," subtitle
"Method of Assessment," STATE DEPARTMENT OF ASSESS-
MENTS AND TAXATION," to follow immediately after Section
14(d) 232(8)(B) thereof AND THAT SECTION 32 OF ARTICLE
81 OF THE ANNOTATED CODE OF MARYLAND (1969 RE-
PLACEMENT VOLUME AND 1971 SUPPLEMENT), TITLE
"REVENUE AND TAXES," SUBTITLE "LEVY," BE AND THE
SAME IS HEREBY REPEALED AND RE-ENACTED WITH
AMENDMENTS and to read as follows:

14 232.

(e) Where the real property has not been re-assessed with the

prior three years, any new re-assessment being made shall not be an

increase in excess of five (5) percent of the last prior assessment.

(8).

(C) ALL ASSESSABLE REAL PROPERTY IN EVERY
COUNTY AND BALTIMORE CITY SHALL BE PHYSICALLY
INSPECTED FOR RE-ASSESSMENT AT LEAST ONCE IN
EVERY THREE (3) YEARS. IF THE ASSESSMENT ON REAL
PROPERTY IS INCREASED MORE THAN THIRTY-SIX PER-
CENT (36%) IN ANY THREE (3) YEAR PERIOD THEN THE
PERCENTAGE INCREASE IN EXCESS OF THIRTY-SIX PER-
CENT (36%) SHALL BE PHASED IN, AT THE OPTION OF THE
TAXPAYER, OVER THE ENSUING THREE (3) YEAR ASSESS-
MENT PERIOD IN EQUAL ANNUAL PERCENTAGES; UNLESS

(1) THE PROPERTY IS TRANSFERRED TO NEW OWNERSHIP,

(2)  THE ZONING CLASSIFICATION OF THE PROPERTY IS
CHANGED, (3) A SUBSTANTIAL CHANGE OCCURS IN THE