(a) Except as otherwise provided in this section and after complying with
§ 6-305 of this subtitle, in each year after the date of finality and
before the following July 1, the Mayor and City Council of Baltimore
City or the governing body of each county annually shall set the tax
rate for the next taxable year on all assessments of property subject
to that county's property tax.
(b) (1) Except as provided in subsection (c) of this section, §§ 6-305 and
6-306 of this subtitle and § 6-203 of this title:
(i) there shall be a single county property tax rate for all real property
subject to county property tax except for operating real property
described in § 8-109(c) of this article; and
(ii) the county tax rate applicable to personal property and the operating
real property described in § 8-109(c) of this article for taxable
years beginning after June 30, 2001 shall be 2.5 times the rate for
real property.
(2) Paragraph (1) of this subsection does not affect a special rate
prevailing in a taxing district or part of a county.
(c) (1) Intangible personal property is subject to county property tax as
otherwise provided in this title at a rate set annually, if:
(i) the intangible personal property has paid interest or dividends during
the 12 months that precede the date of finality;
(ii) interest or dividends were withheld on the intangible personal property
during the 12 months that precede the date of finality to avoid the tax
under this subsection;
(iii) the intangible personal property consists of newly issued bonds,
certificates of indebtedness, or evidences of debt on which interest is
not in default; or
(iv) a stock dividend has been declared on the intangible personal property
during the 12 months that precede the date of finality.
(2) The county tax rate for the intangible personal property is 30 cents
for each $100 of assessment.
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