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§ 14-509. Tax assessments of property

West's Annotated Code of MarylandReal PropertyEffective: October 1, 2010

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 14. Miscellaneous Rules (Refs & Annos)
Subtitle 5. Affordable Housing Land Trusts (Refs & Annos)
Effective: October 1, 2010
MD Code, Real Property, § 14-509
§ 14-509. Tax assessments of property
Currentness
Property assessed based on market value
(a) In any assessment for tax purposes of property subject to an affordable housing land trust agreement, the property shall be assessed based on its market value subject to any restrictions in the affordable housing land trust agreement.
Not that sale not an arms-length transfer
(b) The assessment shall note that the sale was not an arms-length transfer on the property tax record.

Credits

Added by Acts 2010, c. 609, § 1, eff. Oct. 1, 2010; Acts 2010, c. 610, § 1, eff. Oct. 1, 2010.
MD Code, Real Property, § 14-509, MD REAL PROP § 14-509
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document