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LAWS OF MARYLAND

Ch. 8

EXCEPT FOR REAL PROPERTY THAT SUBSEQUENTLY BECOMES
ASSESSABLE FOR THE SEMIANNUAL DATE OF FINALITY OR QUARTERLY DATE
OF FINALITY, REAL PROPERTY ASSESSMENTS ARE FINAL AS OF THE DATE
OF FINALITY.

REVISOR'S NOTE: This section is new language that in part
is derived without substantive change from former Art.
81, § 31(b), (c), and (d), as those subsections
related to the date of finality, and in part is added
to clarify the dates of finality for personal property
and real property.

In State Tax Commission v. Armco Steel Corporation,
226 Md. 53, 54, (1961), the court stated that the
authorized corrections referred to in former Art. 81,
§ 2(20) were "escaped property and ... corrections
necessary because of disposition, acquisition or
omission of property since the last assessment".
Subsequently, State Department of Assessments and
Taxation v. Clark, 281 Md. 385 (1977) added the order
issued under former Art. 81, § 67 as another method
of correction.

As to provisions that specify the dates of finality
for which assessments on real property are effective,
see § 8-203 of this title.

As to provisions that specify the taxable year for
which assessments are made for various dates of
finality, see Title 10 of this article.

Defined terms: "Assessment" § 1-101
"Date of finality" § 1-101
"Quarterly date of finality" § 1-101
"Real property" § 1-101
"Semiannual date of finality" § 1-101
"Taxable year" § 1-101

8-417. ESCAPED PROPERTY -- ASSESSING OF.

(A)  DEFINED.

IN THIS SECTION, "ESCAPED PROPERTY" MEANS ANY PROPERTY THAT:

(1)  IS SUBJECT TO ASSESSMENT FOR PROPERTY TAX
PURPOSES; AND

(2)  HAS NOT BEEN ASSESSED.

(B)  WHEN ASSESSED.

NOTWITHSTANDING § 8-418 OF THIS SUBTITLE, AFTER IT IS
DISCOVERED, ESCAPED PROPERTY IS ASSESSED IN THE SAME MANNER AS
OTHER SIMILAR PROPERTY IS ASSESSED.