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LAWS OF MARYLAND

Ch. 64

CHAPTER 64

(House Bill 795)

AN ACT concerning

Property Tax - City of Annapolis - Interest Rates

FOR the purpose of authorizing the governing body of the City of
Annapolis to set the rate of interest payable on overdue
City of Annapolis property taxes.

BY repealing and reenacting, with amendments,

Article - Tax - Property
Section 14-603
Annotated Code of Maryland
(1986 Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, 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:

(1)  1% for Garrett County;

(2)  1% for the City of Salisbury;

(3)  1% for Calvert County;

(4)  1% for Washington County; and

(5)  the rate set by law by:

(i) the governing body of:

1.  Allegany County;

2.  THE CITY OF ANNAPOLIS;