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PARRIS N. GLENDENING, Governor
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Ch. 80
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OPERATING REAL PROPERTY DESCRIBED IN § 8-109(C) OF THE TAX - PROPERTY
ARTICLE WITHIN SUCH COUNTY SUBJECT TO TAXATION AT THE PULL COUNTY TAX
RATE.
Article 83A - Department of Business and Economic Development
5-713.
Each subdivision is hereby authorized to issue general obligation bonds or
otherwise borrow money in an amount not exceeding [one half of one percent] A
TOTAL OF 0.02 PERCENT of the total assessed value of REAL property located within
the subdivision subject to taxation at the full tax rate of the subdivision AND 0.5
PERCENT OF THE TOTAL ASSESSED VALUE OF PERSONAL PROPERTY AND
OPERATING REAL PROPERTY DESCRIBED IN § 8-109(C) OF THE TAX - PROPERTY
ARTICLE WITHIN THE SUBDIVISION SUBJECT TO TAXATION AT THE FULL TAX RATE
OF THE SUBDIVISION, in order to obtain funds to finance its share of project costs for
projects in which the State participates under this subtitle.
Article 88B - Department of State Police
66.
(a) As used in this subtitle:
(4) "Adjusted assessed valuation of real property" [shall be as reported
by the State Department of Assessments and Taxation as of July 1 of the second fiscal
year preceding the fiscal year for which the calculation of State aid is to be made, plus
50% of new property assessed between July 1 and December 31 of such second
preceding fiscal year. Thus, State aid for the first year of this grant shall be based on
assessed valuation as of July 1, 1966 plus 50% of new property assessed between July
1, 1966 and December 31, 1966; and State aid for succeeding years on corresponding
succeeding assessments] MEANS, FOR FISCAL YEAR 2000 AND EACH FISCAL YEAR
THEREAFTER, 40% OF THE ASSESSED VALUATION OF REAL PROPERTY REPORTED BY
THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION AS OF JULY 1 OF THE
SECOND FISCAL YEAR PRECEDING THE FISCAL YEAR FOR WHICH THE CALCULATION
OF STATE AID IS TO BE MADE, PLUS 20% OF NEW PROPERTY ASSESSED BETWEEN
JULY 1 AND DECEMBER 31 OF THE SECOND PRECEDING FISCAL YEAR. "Real
property" shall have the meaning, and assessed valuation shall be subject to the
adjustments for under- or over-assessment, as presently provided by § 5-202 of the
Education Article.
Article - Education
5-202.
(a) (8) "Wealth" means the sum of:
(i) Net taxable income;
(ii) [The] 40 PERCENT OF THE assessed valuation of real property;
and
(iii) 50 percent of assessed value of personal property.
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- 649 -
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