Section 7-105 - Adjustment of tax on public property; tax on formerly exempt property. - Maryland Statutes

§ 7-105. Adjustment of tax on public property; tax on formerly exempt property.
 

(a)  Abatement of tax on public property; adjustment.-  

(1) Notwithstanding § 7-103 of this subtitle, when all or any part of property that will be entitled to abatement is acquired by the State, a county, or a municipal corporation for public purposes, the supervisor shall abate the property tax on the property acquired from the date of acquisition for the remainder of the taxable year in which the property was acquired. 

(2) If, at the time of settlement for the property, the owner has paid the property tax for that taxable year, the settlement officer shall reimburse the seller for the part of the property tax that was paid for the remainder of the taxable year from the date of acquisition. 

(3) At the time of settlement, the settlement officer shall retain from any available funds of or due to the seller sufficient money to pay any property tax due for the property to the date of acquisition. The retained funds are nonrefundable. 

(b)  Tax on formerly exempt property.- Except as otherwise provided in this article, when any property that was formerly exempt for public purposes is sold and the property is no longer entitled to the exemption, the property tax is payable for the remainder of the taxable year from the date of sale. 
 

[An. Code 1957, art. 81, § 67; 1985, ch. 8, § 2.]