Section 8-107 - Valuation of personal property. - Maryland Statutes

§ 8-107. Valuation of personal property.
 

(a)  Value of personal property.- Except as provided under § 8-110 of this subtitle, the value of personal property shall be its value on the date of finality. 

(b)  Adjusted value of certain property.- In valuing any personal property acquired by purchase, lease purchase, or other similar agreement for transfer of title to the personal property after a period of its use, the Department shall consider any sum that is paid to acquire the personal property. 
 

[An. Code 1957, art. 81, § 14; 1985, ch. 8, § 2; 1987, ch. 434, § 1; 1988, ch. 6, § 1; 2002, ch. 120.]