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Ch. 80
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2000 LAWS OF MARYLAND
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(g) After the meeting, the taxing authority may adopt by law an increase in
the county or municipal corporation REAL property tax rate that exceeds the constant
yield tax rate:
(1) on the day of the meeting; or
(2) on a later day, if the day, time, and location to consider the increase
are announced at that meeting.
(h) The requirements of this section do not apply if a taxing authority:
(1) increases the county or municipal corporation REAL property tax rate
above the constant yield tax rate solely because of the reduction in the taxing
authority's REAL PROPERTY assessable base due to the final determination of
assessment appeals; or
(2) sets a county or municipal corporation REAL property tax rate that
does not exceed the constant yield tax rate.
(i) (1) Annually, a county shall include on the face of a real property tax bill:
(i) the county REAL property tax rate and the constant yield tax
rate for the taxable year;
(ii) the amount, if any, by which the county REAL property tax rate
exceeds the constant yield tax rate; and
(iii) a designation that the property is either the owner's "principal
residence" or "not a principal residence".
(2) A county shall also mail with the REAL property tax bill the
information described below in substantially the following form:
"Constant Yield Tax Rate
1. In the last taxable year the county (or Baltimore City) REAL property tax
rate was....., and the certified assessment of the net assessable REAL property was
$......The assessment multiplied by the rate produced REAL property tax revenues of
$......
2. For this taxable year the certified assessment of the net assessable REAL
property is $.....To produce the same REAL property tax revenues as last year the
REAL PROPERTY tax rate would be.....This rate is called the constant yield tax rate.
3. For this taxable year the actual REAL property tax rate is....., which is (the
same as) (different from) the constant yield tax rate. (If different, the rate is .....
(more) (less) than the constant yield tax rate and will produce in REAL property tax
revenues $.....(more) (less) than would be produced by the constant yield tax rate)".
(j) A taxing authority that in good faith has made all reasonable efforts to
comply with the requirements of subsections (b) through (g) of this section and
provides satisfactory evidence to the Department that any lack of compliance with the
requirements was for reasons beyond the taxing authority's control:
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- 654 -
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