(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.
(3) On or before May 15 of each year, the Department may amend a constant
yield tax rate but only:
(i) when directed to make a change by an enactment of the General Assembly;
(ii) to correct an error in the calculation of the constant yield tax rate;
or
(iii) to reflect a significant loss of taxable base, as determined by the
Director.
(d) The Director shall exempt a municipal corporation from the constant
yield tax rate provisions of § 6-308 of this article if a difference
of less than $25,000 exists between:
(1) the property tax revenue that is provided by applying the municipal
corporation real property tax rate for the preceding taxable year to
the estimated assessment of all real property in the municipal
corporation; and
(2) the property tax revenue that is provided by applying the constant
yield tax rate for the next taxable year to the estimated assessment of
all real property in the municipal corporation.
(e) (1) The Director shall report to the Attorney General any taxing authority
that appears to have violated the requirements of § 6-308 of this
article.
(2) The Attorney General shall investigate the report forwarded by the
Director. If the Attorney General finds that a taxing authority
violated the requirements of § 6-308 of this article, the Attorney
General shall institute appropriate legal action to effect compliance
with the requirements of § 6-308 of this article.
(3) If a court finds that a taxing authority violated § 6-308 of this
article, the real property tax rate of that taxing authority shall be
the constant yield tax rate.
(f) A taxing authority that does not exceed the constant yield tax rate
shall notify the Department within the time set by the Director.
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