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PARRIS N. GLENDENING, Governor
CHAPTER 80
(Senate Bill 626)
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Ch. 80
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AN ACT concerning
Truth in Taxation - Real Property Tax Assessments
FOR the purpose of altering the method of computing the assessment of real property;
requiring the Board of Public Works to annually set certain tax rates for certain
taxable years; requiring that the county and municipal tax rates for personal
property and certain operating real property be set at a rate that is based on the
rate for real property under certain circumstances; altering the computation of
certain exemptions, credits, and penalties to reflect the change in computation
of assessments under this Act; requiring that an assessment for certain taxable
years be computed in a certain manner for certain purposes; altering certain tax
rates, limits on tax rates, debt limits, and certain formulas for computing State
aid to local governments, to reflect the changes in computation of assessments
under this Act; requiring the Board of Public Works to certify to the governing
bodies of each county certain rates to meet certain debt service requirements for
certain taxable years; altering certain provisions of law relating to the constant
yield tax rate; requiring the Department of Assessments and Taxation to
identify certain provisions of law and submit a certain report to the General
Assembly; requiring a county or municipal corporation to include certain notices
in the real property tax bill for certain taxable years; altering the requirements
for certain information relating to the constant yield tax rate to be provided
under certain circumstances; requiring the Department to include certain
statements in certain assessment notices; requiring the Board of Public Works
to certify a rate rates of State tax on assessable property for a certain taxable
year to reflect the changes in the method of assessing real property under this
Act; providing that, on a certain date, real property tax rates shall be a certain
percentage of the real property tax rates effective on a certain date; providing for
the intent of this Act; requiring the Department to adopt regulations by a
certain date to adjust the valuation of use-valued property in a manner that
would be revenue neutral relative to this Act; providing for the revaluation of
use-valued property; providing for the construction, effective dates, and
applicability of this Act; defining certain terms; and generally relating to the
method of computing the assessment of property for property tax purposes.
BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 1-101(b) and (c), 2-205, 6-301(a), 6-302(b), 6-303(c), 6-308, 7-207(b),
8-103, 8-108(c), 8-109(c), 8-209(d), 8-211(j), 8-224(b), 8-233(d), 8-401(c)
and (d), 9-103(a)(3) and (5) and (g), and 9-104(a)(13)
Annotated Code of Maryland
(1994 Replacement Volume and 1999 Supplement)
BY adding to
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- 633 -
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