HARRY HUGHES, Governor

995

ARE NOT LIMITED TO, SALES AND COSTS OF CONSTRUCTION.
ASSESSMENTS SO DERIVED WILL BE CERTIFIED TO THE RESPECTIVE
PROPERTY OWNERS NO LATER THAN JANUARY 1 OF THE BASE YEAR OF
THE NEXT 3-YEAR CYCLE. NOTWITHSTANDING THE PROVISIONS OF
THIS PARAGRAPH, PROPERTY MAY BE REASSESSED WHENEVER: (1)
THERE IS A ZONING CHANGE; (2) THERE IS A CHANGE OF USE; (3)
EXTENSIVE IMPROVEMENTS HAVE BEEN MADE TO THE PROPERTY; OR
(4) THE PREVIOUS ASSESSMENT WAS CLEARLY ERRONEOUS DUE TO AN

ERROR IN CALCULATION OR MEASUREMENT SUBJECT TO THE

PROVISIONS OF SECTION 14(B)(1) OF THIS ARTICLE, IF A
VALUATION AS A RESULT OF A PHYSICAL INSPECTION RESULTS IN AN
INCREASE IN FULL CASH VALUE, THAT INCREASE SHALL BE PHASED
IN OVER THE ENSUING 3 TAXABLE YEARS IN EQUAL ANNUAL
INCREMENTS. FOR THE PURPOSES OF NOTICE AND APPEAL UNDER
SECTION SECTIONS 29 AND 255 OF THIS ARTICLE, THE DATE OF
FINALITY IS THE FIRST DAY OF JANUARY IMMEDIATELY PRECEDING
THE FIRST TAXABLE YEAR TO WHICH THE ASSESSMENT BASED ON THE
INCREASED VALUATION APPLIES.

(D)  ANY PROPERTY SHALL BE REVIEWED, PHYSICALLY
INSPECTED, AND REVALUED IN ACCORDANCE WITH PARAGRAPHS (A)
AND (B) ABOVE IN ANY YEAR THAT:

(1)  THE ZONING CLASSIFICATION OF THE PROPERTY IS
CHANGED;

(2)  A SUBSTANTIAL CHANGE OCCURS IN THE USE OF
THE PROPERTY;

(3)  EXTENSIVE IMPROVEMENTS ARE MADE TO THE
EXISTING PROPERTY;

(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