(a)      Montgomery County and Prince George's County each may levy a direct ad valorem tax on all property assessed for tax purposes within its stormwater management district, except as provided in this subtitle, at a rate required to produce the amount needed to pay for the principal and interest which shall become due and owing to the bond holders during the ensuing year and the proportionate part of the principal of all outstanding sinking fund bonds, as determined by the table of redemption of bonds, for bonds issued by the county for stormwater management.

      (b)      (1)      The taxes authorized by this section shall be levied and collected in the same manner, have the same priority, bear the same interest, and be treated in all respects as other county taxes.

            (2)      However:

                  (i)      Notwithstanding any provision of charter or law, the taxes may not be subject to any limitation on the tax rate or tax revenues of the county;

                  (ii)      The tax revenues shall be deposited and maintained in a separate stormwater management fund; and

                  (iii)      The tax revenues deposited in the fund shall be in addition to all other county taxes and may not be considered county taxes for the purpose of applying the limitations in Article VIII, § 817B of the Prince George's County Charter.

      (c)      Property owned by the State or an agency of the State, a county, a municipality, or a regularly organized volunteer fire department that is used for public purposes shall be exempt from the tax imposed under this section.

      (d)      Property which is not yet within a stormwater management area or is not yet otherwise provided direct or indirect stormwater management services in the stormwater management district may not have the tax imposed until the county acquires, extends, or commences the stormwater management services, facilities, or programs to the property.