Ch. 11

2003 LAWS OF MARYLAND

amend a constant yield tax rate under certain circumstances; and generally
relating to the authority of the Department of Assessments and Taxation to
amend a constant yield tax rate.

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 2-205

Annotated Code of Maryland
(2001 Replacement Volume and 2002 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

2-205.

(a)     In this section, "taxing authority" means:

(1)     the county council or board of county commissioners of a county;

(2)     the City Council of Baltimore City; and

(3)     the governing body of a municipal corporation.

(b)     (1) On or before February 14 of each year, the Department shall send
each taxing authority:

(i) an estimate of the total assessment of all real property in the
county or municipal corporation for the next taxable year; and

(ii) an estimate of the total assessment:

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.

(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.

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