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Ch. 80
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2000 LAWS OF MARYLAND
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(i) the assessment of operating land; and
(ii) ] LESS the assessment of operating real property, if any, that is
exempt by law from property tax.
(3) The assessment of operating personal property is the value of
operating personal property, less the assessment of operating personal property, if
any, that is exempt by law from property tax.
(4) Operating land of a railroad is valued and assessed [as the land
adjacent to the railroad's operating land is valued and assessed] BY THE
DEPARTMENT AS PART OF THE OPERATING UNIT AND IS NOT VALUED AND ASSESSED
BY THE SUPERVISOR
(5) [Except for the assessment of operating land, returns] RETURNS,
notices, and appeals of operating property assessments shall be administered
pursuant to the sections of this article governing personal property assessment.
8-109.
(c) (1) From the value allocated to this State under subsection (b) of this
section, the Department shall deduct:
(i) [the assessment of operating land;
(ii) ] the fair average value of fuel that represents the percentage
reduction or exemption authorized by §§ 7-108, 7-222, and 7-226 of this article; and
[(iii)] (II) the assessment of operating property, if any, that is
exempt by law from property tax.
(2) (i) The value remaining after making the deductions shall be
divided into an operating real property value and an operating personal property
value, as determined by the Department.
(ii) The value of operating real property is the assessment of
operating real property of a public utility.
(iii) The value of operating personal property is the assessment of
operating personal property of a public utility.
(3) Operating land of a public utility is valued and assessed [as the land
adjacent to the public utility's land is valued and assessed] BY THE DEPARTMENT AS
PART OF THE OPERATING UNIT AND IS NOT VALUED AND ASSESSED BY THE
SUPERVISOR.
(4) The provisions of this subsection are not intended to alter the law as
codified in former Article 81 of the Code that was in effect as of January 31, 1986.
(5) [Except for the assessment of operating land, returns] RETURNS,
notices, and appeals of operating property assessments shall be administered
pursuant to the sections of this article governing personal property assessments.
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- 638 -
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