§ 9-694. Levy of property tax
West's Annotated Code of MarylandEnvironment
MD Code, Environment, § 9-694
§ 9-694. Levy of property tax
(a) To retire bonds issued under this subtitle, each year, the sanitary commission, as to each series of outstanding bonds, shall determine or estimate:
(b) At least 60 days before the taxable year for property taxes, the governing body of each member county shall certify to the sanitary commission the total valuation of all taxable property in each service area in that member county.
(c) If, after making the estimate of necessary funds under this section, the sanitary commission determines that there will be insufficient benefit assessments or other funds available to pay the principal and interest referred to in subsection (a) of this section, the sanitary commission shall:
(d)(1) The governing body of each member county shall impose on all real property in each service area in that member county, and may impose on personal property in the service area, a property tax that is sufficient to pay a deficiency specified in subsection (c) of this section.
(e) If property tax collections made under this section in a fiscal year are insufficient to meet a deficiency under subsection (c) of this section, the governing body of each member county, in accordance with subsection (d)(1) of this section, shall impose, for the next fiscal year, property taxes sufficient to make up the insufficient collections.
(f) All property taxes levied under this section:
(g) At least every 60 days, the tax collecting authorities for each member county shall pay to the district the property taxes collected under this section.
(h) The district shall pay, when due, the principal and interest on bonds:
Credits
Added by Acts 1982, c. 240, § 2. Amended by Acts 1985, c. 480, § 1; Acts 1986, c. 826.
Formerly Art. 43, §§ 654, 658.
MD Code, Environment, § 9-694, MD ENVIR § 9-694
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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