1204

LAWS OF MARYLAND

Ch. 334

(1) The property shall be exempt from real
estate taxation to the extent of 100 percent of the increase
in assessed valuation of the property attributable to the
reconstruction and improvement. This exemption shall occur
in the first and second taxable years in which the improved
structure is subject to taxation.

(ii) For the third taxable year in which
the improved structure is subject to taxation, the exemption
shall be to the extent of 80 percent of the increase in
assessed valuation of the property attributable to that
reconstruction.

(iii) For the fourth taxable year in which
the improved structure is subject to taxation, the exemption
shall be to the extent of 60 percent of the increase in
assessed valuation of the property attributable to that
reconstruction.

(iv) For the fifth taxable year in which
the improved structure is subject to taxation, the exemption
shall be to the extent of 40 percent of the increase in
assessed valuation of the property attributable to that
reconstruction.

(v) Thereafter, no exemption for the
purposes stated above shall be allowed.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 6, 1980.

CHAPTER 335

(Senate Bill 713)

AN ACT concerning

Real Property - Disclosure of Water
and Sewer Charges

FOR the purpose of requiring certain contracts for
residential real property to disclose the estimated
cost of certain water and sewer charges.

BY repealing and reenacting, with amendments,

Article - Real Property
Section 10-109(a)
Annotated Code of Maryland
(1974 Volume and 1979 Supplement)