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PARRIS N. GLENDENING, Governor
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Ch. 80
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9-103.
(a) (3) (i) "Base year [assessment] VALUE" means THE VALUE OF THE
PROPERTY USED TO DETERMINE the assessment on which the property tax on real
property was imposed for the base year.
(ii) "Base year [assessment] VALUE" does not include any new real
property that was first assessed in the base year.
(5) "Eligible assessment" means the difference between the base year
[assessment] VALUE and the actual [assessment] VALUE as determined by the
Department for the applicable taxable year in which the tax credit under this section
is to be granted.
(g) Before property tax bills are sent, the Department of Assessments and
Taxation shall submit to the appropriate governing body a list of:
(1) each qualified property;
(2) the amount of the base year [assessment] VALUE for each qualified
property; and
(3) the amount of the eligible assessment for each qualified property.
9-104.
(a) (13) "Total real property tax" means the product of the sum of all property
tax rates on real property, including special district tax rates, for the taxable year on
a dwelling, multiplied by the lesser of the assessed value of the dwelling or [$60,000]
$150,000; and then reduced by any property tax credit granted under § 9-105 of this
subtitle.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article 24 - Political Subdivisions - Miscellaneous Provisions
9-101.
(a) A county or municipal corporation that avails itself of the provisions of this
subtitle may impose a tax not exceeding [8] 3.2 cents on each $100 of assessable REAL
property subject to the property tax in that county or municipal corporation OR 8
CENTS ON EACH $100 OF ASSESSABLE PERSONAL PROPERTY AND OPERATING REAL
PROPERTY DESCRIBED IN § 8-109(C) OF THE TAX - PROPERTY ARTICLE, to be collected
according to law.
9-109.
Each county or municipal corporation that avails itself of the provisions of this
subtitle by borrowing money or incurring indebtedness on its individual faith and
credit shall levy a tax not exceeding [8] 3.2 cents on each $100 of assessable REAL
property subject to the property tax of that county or municipal corporation OR 8
CENTS ON EACH $100 OF ASSESSABLE PERSONAL PROPERTY AND OPERATING REAL
PROPERTY DESCRIBED IN § 8-109(C) OF THE TAX - PROPERTY ARTICLE, to be collected
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- 641 -
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