136

LAWS OF MARYLAND

Ch. 8

tax rate being "set annually" is substituted for the
former references to the county property tax rate
being "deemed" to apply, for clarity.

In subsection (c)(l)(i) of this section, the former
term "actually", which modified the -phrase "paying
interest or dividends" is deleted as superfluous.

In subsection (c)(2) of this section, the defined term
"assessment" is substituted for the former word
"valuation", for clarity.

The third sentence of former Art. 81, § 30(c), which
related to dividing the property tax on intangible
personal property between a county and a municipal
corporation, is deleted as obsolete since no
intangible property is subject to municipal
corporation property tax.

The second clause of former Art. 81, § 32, which
related to a public hearing to be held by Charles
County Commissioners, is transferred to the Public
Local Laws of Charles County.

The balance of former Art. 81, § 30(a) and the first
clause of § 32, which concerned municipal
corporations, now appear in § 6-303 of this subtitle.

Defined terms: "Assessment" § 1-101
"County" § 1-101 "County property tax" § 1-101
"Date of finality" § 1-101 "Governing body" § 1-101
"Property" § 1-101 "Taxable year" § 1-101

6-303. SETTING OF MUNICIPAL CORPORATION PROPERTY TAX RATE.

(A)  IN GENERAL.

(1)  EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION AND § 6-305 OF THIS SUBTITLE, IN EACH YEAR AFTER THE
DATE OF FINALITY AND BEFORE THE FOLLOWING JULY 1, THE GOVERNING
BODY OF EACH MUNICIPAL CORPORATION ANNUALLY SHALL SET THE TAX
RATE FOR THE NEXT TAXABLE YEAR ON ALL ASSESSMENTS OF PROPERTY
SUBJECT TO MUNICIPAL CORPORATION PROPERTY TAX.

(2)  IF NOT OTHERWISE PROHIBITED BY THIS ARTICLE, THE
GOVERNING BODY OF A MUNICIPAL CORPORATION MAY SET SPECIAL RATES
FOR ANY CLASS OF PROPERTY THAT IS SUBJECT TO THE MUNICIPAL
CORPORATION PROPERTY TAX.

(B)  CHANGING RATE.

THE GOVERNING BODY OF A MUNICIPAL CORPORATION MAY CHANGE A
PROPERTY TAX RATE THAT IS FIXED IN ITS CHARTER IF:

(1) THE RATE CAUSES A LOSS OF REVENUE BECAUSE OF
EXEMPTION OF PROPERTY THAT IS SUBJECT TO THE TAX. RATE; OR