1386

LAWS OF MARYLAND

Ch. 313

BY repealing

Article 81 — Revenue and Taxes

Section 46A

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

BY repealing and reenacting, with amendments.

Article 81 - Revenue and Taxes

Section 232C(b)

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 81 — Revenue and Taxes

[46A.

(a)    60 days prior to the setting of the annual levy,
the State Department of Assessments and Taxation shall
provide the appropriate agency of each county and Baltimore
City with the estimated assessable base of the county. The
Department shall advertise the estimated assessable base in
a newspaper of general circulation in each county and
Baltimore City for at least two consecutive weeks.

(b)    The county commissioners or county council of
each county, as the case may be, and the city council of
Baltimore, shall consider the estimated assessable base when
they determine the annual property tax levy.]

232C.

(b) Prior to January 15 of each year the Department

shall notify each taxing authority of an estimate of the

total assessed value 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 ADVERTISE THE ESTIMATED
ASSESSABLE BASE IN A NEWSPAPER OF GENERAL CIRCULATION IN
EACH COUNTY AND BALTIMORE CITY FOR AT LEAST TWO CONSECUTIVE
WEEKS AND SHALL ALSO 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