PARRIS N. GLENDENING, Governor

Ch. 97

2. A TEAR-OUT OR OTHER RESPONSE FORM THAT CAN BE
USED BY TAXPAYERS TO REQUEST THAT THEIR PROPERTY TAXES BE PAID ON A
SEMIANNUAL BASIS TO MORTGAGE COMPANIES OR OTHER ESCROW ACCOUNT
SERVICERS OR LOCAL GOVERNMENTS.

(III) WHEN PROVIDING NOTICE THROUGH A NEWSPAPER THE
NEWSPAPER ADVERTISEMENT SHALL BE PUBLISHED AT LEAST TWO TIMES DURING
THE MONTH OF MARCH OF EACH YEAR.

(IV) THE NEWSPAPER ADVERTISEMENT OR THE WRITTEN
NOTIFICATION SHALL ALLOW OWNERS WHO PAY PROPERTY TAXES THROUGH AN
ESCROW ACCOUNT SERVICER OR MORTGAGE COMPANY AT LEAST 60 DAYS TO ELECT A
PAYMENT OPTION.

[(d)] (F) A property owner electing to pay real property taxes under a semiannual
payment schedule shall pay a service charge with the second installment.

[ (e)] (G) The service charge:

(1)     shall be:

(i) adopted by the taxing authority THAT COLLECTS THE PROPERTY
TAXES as part of adoption of the property tax rate under §§ 6-301 through 6-303 of this
article;

(II) APPLICABLE TO ALL PROPERTY TAX BEING COLLECTED BY
THE TAXING AUTHORITY ON THE SEMIANNUAL PAYMENT SCHEDULE FOR ITSELF
AND FOR ANY OTHER TAXING AUTHORITY;

[(ii)] (III) expressed as a percent of the amount of tax due at the
second installment and shown on the tax bill as a percent and actual dollar amount
charged; and

[ (iii)] (IV) calculated in an amount:

1.       reasonably equivalent to the anticipated lost interest income
associated with the delay in payment of the second installment; and

2.       covering administrative expenses associated with the
semiannual payment not exceeding 25% of the charge for lost interest; and

(2)     may not be considered to be a property tax for the purposes of any
provision of a local law or charter that limits the property tax rate or property tax
revenues.

[(f)] (H) (1) The property tax bill under a semiannual payment PAYMENT
schedule[:

(1)] (I) shall state:

[(i)] (1) 1. the amount of the tax due if paid in full, including any
applicable discounts for early payment;

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