|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3626
|
|
|
|
|
|
Ch. 964
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 OF THE
CONSTANT YIELD TAX 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 CALCULATING THE CONSTANT YIELD TAX RATE, THE
DEPARTMENT SHALL USE THE ESTIMATED 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.
(C) A TAXING AUTHORITY MAY NOT INCREASE THE TAX
RATE ABOVE THE CONSTANT YIELD TAX RATE EXCLUSIVE OF
REVENUE FROM PROPERTY TAXES ON PROPERTIES APPEARING FOR
THE FIRST TIME ON THE ASSESSMENT RECORDS, UNLESS IT
ADVERTISES ITS INTENTION TO IMPOSE AN INCREASED TAX RATE.
(D) A TAX RATE IN EXCESS OF THE CONSTANT YIELD TAX
RATE MAY NOT BE LEVIED UNTIL THE TAXING AUTHORITY
IMPLEMENTS THE FOLLOWING PROCEDURE:
(1) THE TAXING AUTHORITY SHALL ADVERTISE ITS
INTENT TO EXCEED THE CONSTANT YIELD TAX RATE IN A
NEWSPAPER OF GENERAL CIRCULATION WITHIN ITS JURISDICTION
SUFFICIENT TO GIVE NOTICE AS DETERMINED BY THE
DEPARTMENT. THE TAXING AUTHORITY WILL MEET ON A DAY, AT A
TIME AND PLACE FIXED IN THE ADVERTISEMENT, WHICH SHALL BE
APPROXIMATELY 7 DAYS AFTER THE DAY THAT THE ADVERTISEMENT
IS PUBLISHED, FOR THE PURPOSE OF HEARING COMMENTS
REGARDING ANY TAX RATE INCREASE AND TO EXPLAIN THE
REASONS FOR ANY PROPOSED INCREASE. THE ADVERTISEMENT MAY
NOT BE LESS THAN 1/4 PAGE IN SIZE AND THE SMALLEST TYPE
USED SHALL BE 18 POINT. THE ADVERTISEMENT MAY NOT BE
PLACED IN THAT PORTION OF THE NEWSPAPER WHERE LEGAL
NOTICES AND CLASSIFIED ADVERTISEMENTS APPEAR. IN LIEU OF
PUBLISHING THE ADVERTISEMENT, AS PROVIDED IN SUBSECTION
(C) OF THIS SECTION, THE TAXING AUTHORITY MAY MAIL A COPY
OF THE NOTICE TO EACH TAXPAYER RESIDING WITHIN THE
JURISDICTION OF THE TAXING AUTHORITY. THE MEETING ON THE
PROPOSED TAX RATE MAY COINCIDE WITH THE MEETING ON THE
PROPOSED BUDGET OF THE TAXING AUTHORITY. THE HEARING
SHALL BE HELD NOT LESS THAN 14 DAYS PRIOR TO THE DATE BY
WHICH PROPERTY TAX RATES SHALL BE LEVIED PURSUANT TO THE
PROVISION CONTAINED IN A CHARTER, GENERAL OR LOCAL LAW,
OR LOCAL ORDINANCE.
(2) THE TAXING AUTHORITY, AFTER THE PUBLIC
HEARING HAS BEEN HELD IN ACCORDANCE WITH THE ABOVE
PROCEDURES, MAY ADOPT A RESOLUTION OR ORDINANCE LEVYING A
PROPERTY TAX RATE IN EXCESS OF THE CONSTANT YIELD TAX
RATE. IF THE RESOLUTION OR ORDINANCE ADOPTING THIS TAX
RATE IS NOT APPROVED ON THE DAY OF THE PUBLIC HEARING,
THE DAY, TIME AND PLACE AT WHICH THE RESOLUTION OR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
