Bill > SB183

This bill modifies the current requirements for how the State Department of Assessments and Taxation notifies local taxing authorities about their constant yield tax rate. Currently, the Department automatically sends the constant yield tax rate to each taxing authority (which includes county councils, the Baltimore City Council, and municipal governing bodies). Under the new bill, a taxing authority must now proactively request the constant yield tax rate by February 1st each year, and the Department will only calculate and send the rate if requested. The bill still requires the Department to send other annual information to taxing authorities by February 14th, including estimates of total property assessments, assessments of new construction and improvements, and property assessment changes resulting from tax appeal board or Maryland Tax Court actions. The constant yield tax rate represents the tax rate that would generate the same property tax revenue as the current year's rate, and the bill maintains existing provisions about how this rate can be calculated and potentially amended. The changes will take effect on June 1, 2025, potentially reducing administrative work for the Department by eliminating automatic notifications to authorities that may not need or want them.

Budget and Finance

Budget and Taxation (S)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0183?ys=2025RS