298                                                LAWS OF MARYLAND                                      Ch. 8

references to reporting "in such detail as to show the
cost or market value" and "other data required to
establish market" value, for brevity.

Former Art. 81, § 36, which concerned the valuation of

"discovered property", is deleted as unnecessary in

light of the provisions of this section concerning
"escaped property".

Defined terms: "Assess" § 1-101

"Assessment" § 1-101 "Assessment roll" § 1-101

"County property tax" § 1-101

"Municipal corporation" § 1-101 "Property" § 1-101

"Property tax" § 1-101 "Taxable year" § 1-101

"Tax roll" § 1-101 "Value" § 1-101

8-418. ESCAPED PERSONAL PROPERTY -- PENALTY AND NOTICE.

(A) DETERMINATIONS MADE FOR PENALTY.

AFTER ANY PERSONAL PROPERTY THAT IS SUBJECT TO ASSESSMENT BY
§ 8-417(D) OF THIS SUBTITLE AS ESCAPED PROPERTY IS ASSESSED, THE
DEPARTMENT OR THE SUPERVISOR SHALL DETERMINE IF:

(1) THE OWNER FAILED TO REPORT ACCURATELY THE VALUE
OF THE ESCAPED PROPERTY; AND

(2) THE FAILURE TO REPORT ACCURATELY CAUSED THE
ESCAPED PROPERTY TO BE ASSESSED AT LESS THAN ITS VALUE.

(B) NOTICE.

(1)  NOTICE OF THE ASSESSMENT OF ESCAPED PROPERTY
UNDER § 8-417(D) OF THIS SUBTITLE AND THE IMPOSITION OF ANY
PENALTY UNDER § 14-705 OF THIS ARTICLE SHALL BE GIVEN AS PROVIDED
BY § 14-402 OF THIS ARTICLE.

(2)  THE NOTICE SHALL SEPARATELY STATE:

(I)  THE ASSESSMENT OF THE ESCAPED PROPERTY; AND

(II)  THE PENALTY IMPOSED UNDER § 14-705 OF THIS
ARTICLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
34A(b) -- except for the penalty provision -- and (c).

In the introductory language of subsection (a) of this
section, the reference to "personal property that is
subject to ... § 8-417(d) of this subtitle" is added
to modify "escaped property", for clarity.

Also in the introductory language of subsection (a) of
this section, the defined terms "Department" and