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PARRIS N. GLENDENING, Governor
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Ch. 311
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CHAPTER 311
(Senate Bill 378)
AN ACT concerning
Property Tax Baltimore City - Tax Sales - High-Bid Premium
FOR the purpose of altering the calculation of a certain high-bid premium imposed on
the sale of property at certain tax sales in Baltimore City; making this Act an
emergency measure; and generally relating to the calculation of the high-bid
premium at tax sales in Baltimore City,
BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 14-817(b)
Annotated Code of Maryland
(2001 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Tax - Property
14-817.
(b) (1) Except as provided in subsection (c) of this section, property may not
be sold for a sum less than the total amount of all taxes on the property that are
certified to the collector under § 14-810 of this subtitle, together with interest and
penalties on the taxes and the expenses incurred in making the sale, and the lien for
the taxes, interest, penalties, and expenses passes to the purchaser.
(2) (i) The collector may establish a high-bid premium to be applied to
all properties to be sold at the tax sale.
(ii) Except as provided in subparagraph SUBPARAGRAPHS (iii) AND
(IV) of this paragraph, the high-bid premium shall be 20% of the amount by which the
highest bid exceeds THE GREATER OF;
1. THE LIEN AMOUNT; OR
2. 40% of the property's full cash value.
(III) EXCEPT AS PROVIDED IN SUBPARAGRAPH (IV) OF THIS
PARAGRAPH, IN BALTIMORE CITY, THE HIGH-BID PREMIUM SHALL BE 20% OF THE
AMOUNT BY WHICH THE HIGHEST BID EXCEEDS THE GREATER OF:
1. THE LIEN AMOUNT; OR
2. 40% OF THE PROPERTY'S FULL CASH VALUE.
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- 2731 -
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