(a) The governing body of a county may reduce, by law, the percent of the assessment of any personal property that is subject to the county property tax under § 7-222 or § 7-225 of this title.
(b) A county that reduces or eliminates the percent of assessment of taxable personal property under subsection (a) of this section shall submit a copy of the law to the Department. If the Department receives a copy of the law on or before May 1, the change shall be effective for the taxable year following the date the law is enacted.
Structure Maryland Statutes
Title 7 - Property Tax Exemptions
Subtitle 1 - General Provisions
Section 7-101 - Exemptions -- Strict Rule of Construction
Section 7-102 - Exemptions by Law -- Effective Date
Section 7-103 - Exemptions of Real Property -- Procedure
Section 7-104 - Exemptions -- Abatement of Tax
Section 7-105 - Adjustment of Tax on Public Property; Tax on Formerly Exempt Property
Section 7-106 - Exempt Property -- Assessment
Section 7-107 - Local Exemptions -- Effect on State Aid
Section 7-108 - Local Exemptions -- Change by Counties