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2252
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Ch. 434
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LAWS OF MARYLAND
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Section 11-107(e) be and it is hereby added to Article
Real Property, of the Annotated Code of Maryland (1974
Volume and 1976 Supplement) to follow:
Article - Real Property
11-107.
(E) BEFORE THE INITIAL RECORDING REQUIRED BY
SECTION 11-102 OF THIS TITLE OR BEFORE THE RECORDING OF
ANY CHANGE IN THE PERCENTAGE INTEREST ASSIGNMENT, THE
INITIAL OR NEW PERCENTAGE INTEREST ASSIGNMENT SHALL BE
SUBMITTED TO THE DEPARTMENT OF ASSESSMENTS AND TAXATION
FOR APPROVAL. THE DEPARTMENT MAY NOT APPROVE A
PERCENTAGE INTEREST ASSIGNMENT UNLESS THAT ASSIGNMENT IS
BASED ON THE REQUIREMENT FOR FULL CASH VALUE ASSESSMENT
AS SET FORTH IN SECTION 14 OF ARTICLE 81, REVENUE AND
TAXES.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 11-114 of Article - Real Property,
of the Annotated Code of Maryland (1974 Volume and 1976
Supplement) be and it is hereby repealed and reenacted,
with amendments, to read as follows:
Article — Real Property
11-114.
[(a) Each property subjected to a condominium
regime shall continue its original identity and unity for
the purpose of evaluating the whole for assessment
purposes. The total evaluation thus produced shall be
distributed among the units in the condominium and the
assessment of each unit shall be in direct proportion to
the percentage interest of each unit in the common
elements and an individual assessment thereby placed on
each unit.
(b) Each unit shall be carried on the tax records
of the county where it is located as a separate and
distinct entity and all real estate taxes, including
general and special assessments and other charges coming
due after the establishment of the condominium regime,
shall be assessed, levied, and collected against each
unit in the same manner and to the same extent as
assessments are levied and collected in the case of
individual land parcels.]
(A) EACH CONDOMINIUM UNIT AND ITS APPURTENANT
UNDIVIDED INTEREST IN THE COMMON ELEMENTS SHALL BE
ASSESSED AT FULL CASH VALUE ON THE DATE OF FINALITY AS
PROVIDED IN ARTICLE 81, SECTION 14 OF THE CODE. EACH
UNIT SHALL BE CARRIED ON THE TAX RECORDS OF THE COUNTY
WHERE IT IS LOCATED AS A SEPARATE AND DISTINCT ENTITY;
AND ALL REAL ESTATE TAXES, INCLUDING GENERAL AND SPECIAL
ASSESSMENTS AND OTHER CHARGES COMING DUE AFTER THE
ESTABLISHMENT OF THE CONDOMINIUM REGIME, SHALL BE
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