Bill > HB133

This bill modifies the existing requirements for how the State Department of Assessments and Taxation provides the constant yield tax rate to local taxing authorities. Currently, the Department is required to automatically notify all taxing authorities (which include county councils, Baltimore City Council, and municipal governing bodies) of the constant yield tax rate each year. Under the proposed changes, the Department will only calculate and send the constant yield tax rate if a specific taxing authority requests it by February 1st of each year. The bill still maintains the Department's obligation to send other important annual information to taxing authorities, such as estimates of total property assessments, new construction assessments, and property assessment changes resulting from tax appeals. The constant yield tax rate is a calculation that determines the tax rate needed to generate the same property tax revenue as the previous year, and this bill gives taxing authorities more control over when they receive this specific information. The bill is set to take effect on June 1, 2025, and appears to be aimed at reducing administrative burden by making the constant yield tax rate notification process optional rather than mandatory.

Budget and Finance

Ways and Means (H)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0133?ys=2025RS