HARRY HUGHES, Governor

147

"CONSTANT YIELD TAX RATE

1. IN THE LAST TAXABLE YEAR THE COUNTY (OR

BALTIMORE CITY) PROPERTY TAX RATE WAS_______, AND THE CERTIFIED

ASSESSMENT OF THE NET ASSESSABLE PROPERTY WAS $_______. THE

ASSESSMENT MULTIPLIED BY THE RATE PRODUCED REVENUES OF $_______.

2. FOR THIS TAXABLE YEAR THE CERTIFIED

ASSESSMENT OF THE NET ASSESSABLE PROPERTY IS $_______. TO

PRODUCE THE SAME REVENUE AS LAST YEAR THE TAX RATE WOULD BE
_______. THIS RATE IS CALLED THE CONSTANT YIELD TAX RATE.

3. FOR THIS TAXABLE YEAR THE ACTUAL PROPERTY

TAX RATE IS _______, WHICH IS (THE SAME AS) (DIFFERENT FROM) THE

CONSTANT YIELD TAX RATE. (IF DIFFERENT, THE RATE IS ______

(MORE) (LESS) THAN THE CONSTANT YIELD TAX RATE AND WILL PRODUCE

IN REVENUE $_______ (MORE) (LESS) THAN WOULD BE PRODUCED BY THE

CONSTANT YIELD TAX RATE.)".

(J) EXCEPTIONS TO SUBSECTIONS (B) THROUGH (G) OF THIS
SECTION.

A TAXING AUTHORITY THAT IN GOOD FAITH HAS MADE ALL
REASONABLE EFFORTS TO COMPLY WITH THE REQUIREMENTS OF SUBSECTIONS
(B) THROUGH (G) OF THIS SECTION AND PROVIDES SATISFACTORY
EVIDENCE TO THE DEPARTMENT THAT ANY LACK OF COMPLIANCE WITH THE
REQUIREMENTS WAS FOR REASONS BEYOND THE TAXING AUTHORITY'S
CONTROL:

(1) IS DEEMED TO HAVE COMPLIED WITH THE REQUIREMENTS;
AND

(2)

YIELD TAX RATE.

MAY SET A TAX RATE THAT EXCEEDS THE CONSTANT

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
232C(a)(l) and (2), (c), (d)(1) and (3), (f), (h)(2),
(i) and the second sentences of (e) and (h)(1).

In subsection (a)(3) of this section, the former
phrase "subject to Article XI-E of the Constitution"
is deleted as included in the defined term "municipal
corporation".

In the introductory language of subsection (b) of this
section, the phrase "in any taxable year" is added for
clarity.

Also in the introductory language of subsection (b) of
this section, the broad phrase "[u]nless the
requirements of this section are met" is substituted
for the more limited reference to "unless it
advertises its intention to impose an increased tax
rate" to clarify that there are other requirements in
this section that must be met.