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Ch. 121 2002 LAWS OF MARYLAND
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(2) Estimates prepared by the Department of Health and Mental
Hygiene.
(f) "Real property" [includes:
(1) Land and improvements to land;
(2) Land and nonoperating property of railroads and public utilities; and
(3) Public utilities operating property classified as real property by the
Department of Assessments and Taxation] MEANS ALL PROPERTY CLASSIFIED AS
REAL PROPERTY UNDER § 8-101(B) OF THE TAX - PROPERTY ARTICLE.
(g) "Wealth" means the sum of net taxable income and adjusted assessed
valuation of real property.
Article - Tax - Property
8-101.
(a) For assessment purposes, property shall be divided into classes and
subclasses.
(b) Real property is a class of property and is divided into the following
subclasses:
(1) land that is actively devoted to farm or agricultural use, assessed
under § 8-209 of this title;
(2) marshland, assessed under § 8-210 of this title;
(3) woodland, assessed under § 8-211 of this title;
(4) land of a country club, assessed under §§ 8-212 through 8-217 of this
title;
(5) land that is used for a planned development, assessed under §§ 8-220
through 8-225 of this title;
(6) rezoned real property that is used for residential purposes, assessed
under §§ 8-226 through 8-228 of this title;
(7) operating real property of a railroad;
(8) operating real property of a public utility; and
(9) all other real property that is directed by this article to be assessed.
(c) Personal property is a class of property and is divided into the following
subclasses:
(1) stock in business;
(2) distilled spirits;
(3) operating personal property of a railroad;
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