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PARRIS N. GLENDENING, Governor
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Ch. 80
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1. of all new construction and improvements in the county or
municipal corporation not assessed since the last date of finality; and
2. of all REAL property in the county or municipal
corporation that may be deleted from the assessment records.
(2) The Department shall notify each taxing authority of any change in
the estimated assessment of all REAL property in the county or the municipal
corporation that results from actions of a property tax assessment appeal board or the
Maryland Tax Court.
[(d)](C) (1) The Department shall notify each taxing authority of the
constant yield tax rate that will provide the same property tax revenue that is
provided by the REAL PROPERTY tax rate that is in effect for the current taxable year.
(2) In calculating a constant yield tax rate for a taxable year, the
Department shall use an estimate of the total assessment of all REAL property for the
next taxable year exclusive of REAL property that appears for the 1st time on the
assessment records.
(3) On or before May 1 of each year, the Department may amend a
constant yield tax rate but only:
(i) when directed to make a change by an enactment of the General
Assembly; or
(ii) to correct an error in the calculation of the constant yield tax
rate.
[(e)] (D) The Director shall exempt a municipal corporation from the constant
yield tax rate provisions of § 6-308 of this article if a difference of less than $10,000
exists between:
(1) the property tax revenue that is provided by applying the municipal
corporation REAL PROPERTY tax rate for the preceding taxable year to the estimated
assessment of all REAL property in the municipal corporation; and
(2) the property tax revenue that is provided by applying the constant
yield tax rate for the next taxable year to the estimated assessment of all REAL
property in the municipal corporation.
[(f)] (E) (1) The Director shall report to the Attorney General any taxing
authority that appears to have violated the requirements of § 6-308 of this article.
(2) The Attorney General shall investigate the report forwarded by the
Director. If the Attorney General finds that a taxing authority violated the
requirements of § 6-308 of this article, the Attorney General shall institute
appropriate legal action to effect compliance with the requirements of § 6-308 of this
article.
(3) If a court finds that a taxing authority violated § 6-308 of this
[subtitle] ARTICLE, the REAL property tax rate of that taxing authority shall be the
constant yield tax rate.
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- 651 -
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