HARRY HUGHES, Governor

2463

Cecil County - Property Tax - Interest Rates

FOR the purpose of permitting the Cecil County Commissioners to
fix the rate of interest, up to a certain amount, due on
county property taxes that are overdue, in arrears, and
payable; and providing for the application of this Act.

BY adding to

Article 81 - Revenue and Taxes

Section 48(s)

Annotated Code of Maryland

(1980 Replacement Volume and 1984 Supplement)

BY repealing and reenacting, with amendments,

Article - Tax - Property

Section 14-603

Annotated Code of Maryland

(As enacted by Chapter ____ (S.B. 1) of the

Acts of the General Assembly of 1985)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 81 - Revenue and Taxes

48.

(S) TAXES OVERDUE, IN ARREARS, AND PAYABLE TO CECIL COUNTY
SHALL BEAR INTEREST AT THE RATE FIXED BY THE BOARD OF COUNTY
COMMISSIONERS, UP TO 1.5 PERCENT 1%.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Tax - Property

14-603.

(a)  Except as provided in subsection (b) of this section
and for estimated personal property tax in § 14-604 of this
subtitle, the rate of interest for full year county or municipal
corporation property tax or taxing district property tax is
two-thirds of 1% for each month or fraction of a month that the
county or municipal corporation property tax or taxing district
property tax is overdue.

(b)  For the following counties and municipal corporations
the rate of interest for each month or fraction of a month that
county or municipal corporation property tax or taxing district
property tax is overdue is: