818

LAWS OF MARYLAND

Ch. 212

(4) THE PREVIOUS ASSESSMENT WAS CLEARLY
ERRONEOUS DUE TO AN ERROR IN CALCULATION OR MEASUREMENT OF
THE IMPROVEMENTS ON THE PROPERTY.

(E) IF A REVALUATION UNDER PARAGRAPH (D) ABOVE
RESULTS IN AN INCREASE IN FULL CASH VALUE, THE INCREASE
SHALL BE PHASED IN IN EQUAL ANNUAL INCREMENTS OVER THE YEAR
OR YEARS REMAINING IN THE 3-YEAR CYCLE TO WHICH PROPERTY IN
THAT CLASS OR DISTRICT IS SUBJECT; AND, THE PROPERTY SHALL
CONTINUE TO BE PHYSICALLY INSPECTED AND REVIEWED IN THAT
CYCLE.

232C.

(b) (1) Prior to [January] FEBRUARY 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 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 AND THE GROWTH FACTOR TO BE
USED IN THE ENSUING TAXABLE YEAR DETERMINED IN ACCORDANCE
WITH § 14(B) OF THIS ARTICLE 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 reduced by (1)
any additional revenues received pursuant to Article 15A, §
37 solely as a result of the enactment of House Bill 1252 or

Senate Bill 912, Chapter of the Acts of the 1978

General Assembly and (2) the amount of revenues required to
be paid pursuant to Article 43, § 42A for taxable year
1977-1978. 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.

(2) For the taxable year beginning July 1,
[1978] 1979, AND EACH YEAR THEREAFTER the Department may
amend the constant yield tax rate on or before [April 15,
1978, in order to reflect the special allowance for
homestead property required in § 14(b)(1) of this article.]
MAY 1 PRECEDING THE TAXABLE YEAR ONLY WHEN SPECIFICALLY
DIRECTED TO DO SO THROUGH THE ENACTMENT OF LEGISLATION OR TO
CORRECT AN ERROR IN THE RATE.

SECTION 2 3 2. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1979.