80

LAWS OF MARYLAND

Ch. 8

(3) THE GOVERNING BODY OF A MUNICIPAL CORPORATION.

(B)  NOTICE.

(1)  ON OR BEFORE FEBRUARY 14 OF EACH YEAR, THE
DEPARTMENT SHALL SEND EACH TAXING AUTHORITY:

(I)  AN ESTIMATE OF THE TOTAL ASSESSMENT OF ALL
PROPERTY IN THE COUNTY OR MUNICIPAL CORPORATION FOR THE NEXT
TAXABLE YEAR; AND

(II)  AN ESTIMATE OF THE TOTAL ASSESSMENT:

1.  OF ALL NEW CONSTRUCTION AND
IMPROVEMENTS IN THE COUNTY OR MUNICIPAL CORPORATION NOT ASSESSED
SINCE THE LAST DATE OF FINALITY; AND

2.  OF ALL PROPERTY IN THE COUNTY OR
MUNICIPAL CORPORATION THAT MAY BE DELETED FROM THE ASSESSMENT
RECORDS.

(2)  THE DEPARTMENT SHALL NOTIFY EACH TAXING AUTHORITY
OF ANY CHANGE IN THE ESTIMATED ASSESSMENT OF ALL PROPERTY IN THE
COUNTY OR THE MUNICIPAL CORPORATION THAT RESULTS FROM ACTIONS OF
A PROPERTY TAX ASSESSMENT APPEAL BOARD OR THE MARYLAND TAX COURT.

(C)  ADVERTISING.

AFTER EXCLUDING THE ASSESSMENTS DESCRIBED IN SUBSECTION
(B)(1)(II) OF THIS SECTION, THE DEPARTMENT SHALL ADVERTISE FOR AT
LEAST ONCE A WEEK FOR 2 CONSECUTIVE WEEKS IN A NEWSPAPER OF
GENERAL CIRCULATION IN EACH COUNTY:

(1)  AN ESTIMATE OF THE TOTAL ASSESSMENT OF ALL
PROPERTY FOR THE NEXT TAXABLE YEAR; AND

(2)  THE GROWTH FACTOR THAT IS DETERMINED UNDER §
8-103 OF THIS ARTICLE.

(D)  CALCULATION AND NOTIFICATION OF CONSTANT YIELD TAX
RATE.

(1)  THE DEPARTMENT SHALL NOTIFY EACH TAXING AUTHORITY
OF THE CONSTANT YIELD TAX RATE THAT WILL PROVIDE THE SAME
PROPERTY TAX REVENUE THAT IS PROVIDED BY THE TAX RATE THAT IS IN
EFFECT FOR THE CURRENT TAXABLE YEAR.

(2)  IN CALCULATING A CONSTANT YIELD TAX RATE FOR A
TAXABLE YEAR, THE DEPARTMENT SHALL USE AN ESTIMATE OF THE TOTAL
ASSESSMENT OF ALL PROPERTY FOR THE NEXT TAXABLE YEAR EXCLUSIVE OF
PROPERTY THAT APPEARS FOR THE 1ST TIME ON THE ASSESSMENT RECORDS.

(3)  ON OR BEFORE MAY 1 OF EACH YEAR, THE DEPARTMENT
MAY AMEND A CONSTANT YIELD TAX RATE BUT ONLY: