3090

LAWS OF MARYLAND

Ch. 607

Article 3 - Baltimore County

1-104. 23.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2) "FAIR VALUE" MEANS THE LESSER OF:

(I) THE COST, NOT REDUCED BY ANY ALLOWANCE FOR

INFLATION; OR

(II) MARKET VALUE, NOT REDUCED BY ANY ALLOWANCE

FOR INFLATION.

(3) "DISTILLER" INCLUDES:

(I)  THE OWNER OR PROPRIETOR OF A BONDED OR
OTHER WAREHOUSE WHERE DISTILLED SPIRITS ARE STORED; OR

(II)  A PERSON WHO HAS CUSTODY OF DISTILLED
SPIRITS.

(B)  IF BALTIMORE A COUNTY SUBJECTS DISTILLED SPIRITS TO THE
PERSONAL PROPERTY TAX, ON OR BEFORE MARCH 15 OF EACH YEAR, A
DISTILLER SHALL SUBMIT TO THE DEPARTMENT OF ASSESSMENTS AND
TAXATION A REPORT OF THE FAIR VALUE OF DISTILLED SPIRITS HELD BY
THE DISTILLER IN THE COUNTY.

(C)  (1) DISTILLED SPIRITS ARE VALUED AT THE FAIR VALUE OF
THE SPIRITS ON JANUARY 1 OF THE YEAR IN WHICH THE REPORT IS MADE.

(2) THE VALUE OF THE SAME DISTILLED SPIRITS MAY NOT
BE REPORTED MORE THAN 1 TIME IN ANY PERIOD OF 12 MONTHS.

(D)  THE DISTILLER SHALL PAY THE PROPERTY TAX ON THE
DISTILLED SPIRITS HELD BY THE DISTILLER.

Article 4 - Baltimore City

23-2.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2) "FAIR VALUE" MEANS THE LESSER OF:

(I) THE COST, NOT REDUCED BY ANY ALLOWANCE FOR
INFLATION; OR

(II) MARKET VALUE, NOT REDUCED BY ANY ALLOWANCE
FOR INFLATION.

(3) "DISTILLER" INCLUDES: