848

LAWS OF MARYLAND

Ch. 191

(3)  THE DEPARTMENT OR SUPERVISOR SHALL REVALUE REAL
PROPERTY UNDER SUBPARAGRAPHS (I), (II), (IV), AND (V) OF
PARAGRAPH (1) OF THIS SUBSECTION ON THE SEMIANNUAL DATE OF
FINALITY. THE REVALUATION SHALL BE EFFECTIVE FOR THE TAXABLE
YEAR BEGINNING ON THE SEMIANNUAL DATE OF FINALITY, IF THE NOTICE
UNDER THIS TITLE IS SENT NO LATER THAN 30 DAYS AFTER THE
SEMIANNUAL DATE OF FINALITY.

(4)  THE DEPARTMENT OR SUPERVISOR SHALL REVALUE REAL
PROPERTY UNDER SUBPARAGRAPH (III) OF PARAGRAPH (1) OF THIS
SUBSECTION ON THE DATE OF FINALITY, SEMIANNUAL DATE OF FINALITY,
OR QUARTERLY DATE OF FINALITY FOLLOWING THE SUBSTANTIAL
COMPLETION OF THE IMPROVEMENTS TO LAND.

[(d) For purposes of this title and Title 14, Subtitle 5 of
this article, the date of finality for real property that is
valued or revalued under this section is the January 1
immediately before the 1st taxable year to which the assessment
based on the new value is applicable.]

[8-205.

(a)   (1) Land or improvements to land may be reassessed
after the date of finality and before the semiannual date of
finality if:

(i) the real property has been subdivided; or

(ii) its use or character has changed.

(2) The recording of a plat required for the
construction of streets, water facilities, or sewer facilities is
not a change of use or character for purposes of assessment under
this section.

(b)  Improvements to land that are substantially completed
shall be assessed on the date of finality, semiannual date of
finality, or quarterly date of finality next following the
substantial completion.]

SECTION 2. AND BE IT FURTHER ENACTED, That Section(s) 8-206
of Article - Tax - Property of the Annotated Code of Maryland be
renumbered to be Section(s) 8-205.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1986.

Approved April 29, 1986.