2238

LAWS OF MARYLAND

Ch. 764

certain information pertaining to the constant yield
tax rate on the tax bill or mailed with the tax bill,
beginning with a certain date when distributing to
distribute information regarding the property tax bills
and to include in the information or on the bills
certain information on the property tax rate, the
constant yield tax rate, and the revenues resulting
from these rates; and specifying the form of this
information; and making this Act an emergency measure.

BY adding to

Article 81 - Revenue and Taxes

Section 232C(h)

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be repealed, amended, or enacted to read as follows: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

232C.

(H) (1) EACH COUNTY AND BALTIMORE CITY THAT SHALL
INCLUDES INCLUDE INFORMATION AS TO THE COUNTY OR CITY TAX
RATE AND BUDGET IN THE SAILING OF THE TAX BILLS FOR THE
1978-1979 FISCAL YEAR AND SHALL ALSO INCLUDE THE CONSTANT
YIELD TAX RATE AS PART OF THIS INFORMATION AND SHALL
INDICATE THE AMOUNT, IF ANY, BY WHICH THE ACTUAL TAX RATE
EXCEEDS THE CONSTANT YIELD TAX RATE AND THE AMOUNT OF
REVENUE GENERATED BY THIS ADDITIONAL TAX RATE ABOVE THE
CONSTANT YIELD RATE. BEGINNING WITH THE TAXABLE YEAR
1978-1979 AND EACH TAXABLE YEAR THEREAFTER, EVERY COUNTY AND
BALTIMORE CITY MUST INCLUDE ON THE TAX BILL OR AS SEPARATE
INFORMATION MAILED WITH THE TAX BILL INFORMATION AS TO THE
CONSTANT YIELD TAX RATE FOR THAT TAXABLE YEAR AND THE
AMOUNT, IF ANY, BY WHICH THE ACTUAL TAX RATE EXCEEDS THE
CONSTANT YIELD TAX RATE.

(2) THE CONSTANT YIELD TAX RATE REQUIRED TO BE
DISTRIBUTED WITH OR PLACED ON TAX BILLS SHALL BE DESCRIBED
IN SUBSTANTIALLY THE FOLLOWING FORM:

"CONSTANT YIELD TAX RATE

1. IN THE LAST TAXABLE YEAR THE COUNTY (OR

BALTIMORE CITY) PROPERTY TAX RATE WAS , AND THE

CERTIFIED VALUE OF ALL ASSESSABLE PROPERTY WAS $ .

THE RATE MULTIPLIED BY THE VALUE PRODUCED REVENUES OF

$_______.

2. FOR THIS TAXABLE YEAR THE CERTIFIED VALUE

OF ALL ASSESSABLE PROPERTY IS $ . TO PRODUCE THE SAME

REVENUE AS LAST YEAR, THE TAX BATE WOULD BE . THIS

RATE IS CALLED THE

CONSTANT

YIELD TAX RATE.