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MARVIN MANDEL, Governor 3625
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LEVY FOR THE CURRENT FISCAL YEAR,
(4) THE PROPERTY TAX RATE FOR THE CURRENT
YEAR, AND
(5) THE DIFFERENCE BETWEEN THE TAX RATES.
(B) COPIES OF THIS LISTING SHALL BE DISTRIBUTED TO
EACH COUNTY GOVERNMENT AND TO THE MAYOR OF BALTIMORE CITY
AND SHALL BE AVAILABLE UPON REQUEST TO LEGISLATORS AND
OTHER INTERESTED PERSONS.
(A) (1) AS USED IN THIS SECTION, THE FOLLOWING
WORDS HAVE THE MEANINGS SPECIFIED:
(2) "TAXING AUTHORITY" MEANS
(A) FOR A COUNTY, THE COUNTY COUNCIL
OR BOARD OF COUNTY COMMISSIONERS;
(B) FOR BALTIMORE CITY, THE CITY
COUNCIL;
(C) FOR A MUNICIPAL CORPORATION
SUBJECT TO ARTICLE XI-E OF THE CONSTITUTION, THE
GOVERNING BODY.
(3) "DEPARTMENT" MEANS THE DEPARTMENT OF
ASSESSMENTS AND TAXATION.
(B) PRIOR TO JANUARY 15 OF EACH YEAR THE
DEPARTMENT SHALL NOTIFY EACH TAXING AUTHORITY AN ESTIMATE
OF THE TOTAL ASSESSED VALUE OF ALL REAL AND PERSONAL
PROPERTY WITHIN ITS JURISDICTION FOR THE NEXT TAXABLE
YEAR. THE DEPARTMENT SHALL ALSO SEND TO EACH TAXING
AUTHORITY AN ESTIMATE OF THE TOTAL ASSESSED VALUE OF ALL
NEW CONSTRUCTION AND IMPROVEMENTS NOT ASSESSED AS OF THE
PRECEDING DATE OF FINALITY, AND THE VALUE OF DELETIONS
FROM THE ASSESSED VALUATION. AFTER EXCLUDING FROM THE
ESTIMATE OF ASSESSED VALUATION THE VALUE OF SUCH NEW
CONSTRUCTION, IMPROVEMENTS, AND DELETIONS THE DEPARTMENT
SHALL NOTIFY EACH TAXING AUTHORITY A CONSTANT YIELD RATE
WHICH WILL PROVIDE THE SAME PROPERTY TAX REVENUE FOR EACH
TAXING AUTHORITY AS WAS LEVIED DURING THE CURRENT
TAXABLE YEAR. FOR THE PURPOSE OF CALCU CONSTANT YIELD
TAX RATE EXCLUSIVE OF REVENUE FROM PROPERTY TAXES ON
FULL ASSESSABLE BASE AS OF THE DATE OF FINALITY OF THE
NEXT TAXABLE YEAR, EXCLUSIVE OF PROPERTIES APPEARING FOR
THE FIRST TIME ON THE ASSESSMENT RECORDS.
(3) "DEPARTMENT" MEANS THE STATE DEPARTMENT
OF ASSESSMENTS AND TAXATION.
(B) PRIOR TO JANUARY 15 OF EACH YEAR THE
DEPARTMENT SHALL NOTIFY EACH TAXING AUTHORITY OF AN
ESTIMATE OF THE TOTAL ASSESSED VALUE OF ALL REAL AND
PERSONAL PROPERTY WITHIN ITS JURISDICTION FOR THE NEXT
TAXABLE YEAR. THE DEPARTMENT SHALL ALSO SEND TO EACH
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