(a) Except as provided under § 8-110 of this subtitle, the value of personal property shall be its value on the date of finality.
(b) In valuing any personal property acquired by purchase, lease purchase, or other similar agreement for transfer of title to the personal property after a period of its use, the Department shall consider any sum that is paid to acquire the personal property.
Structure Maryland Statutes
Title 8 - Valuation and Assessment
Subtitle 1 - General Provisions and Valuation
Section 8-101 - Classification of Property
Section 8-102 - Valuation of Real Property
Section 8-103 - Assessment of Real Property -- in General
Section 8-105 - Valuation of Income Producing Real Property
Section 8-106 - Valuation of Real Property Owned by Cooperative Housing Corporation
Section 8-107 - Valuation of Personal Property
Section 8-108 - Valuation, Allocation, Assessment, and Apportionment of Railroad Operating Property
Section 8-109 - Valuation, Allocation, Assessment, and Apportionment of Public Utility Property
Section 8-110 - Valuation of Stock in Business
Section 8-112 - Valuation of Distilled Spirits if Counties Impose a Personal Property Tax
Section 8-113 - Valuation of Interests Subject to Tax Under 6-102 of This Article