§ 7-108. Local exemptions -- Change by counties

Latest version.

(a) Power to reduce percent of assessment. -- The governing body of a county may reduce, by law, the percent of the assessment of any personal property that is subject to the county property tax under § 7-222 or § 7-225 of this title.

(b) Report of local action. -- A county that reduces or eliminates the percent of assessment of taxable personal property under subsection (a) of this section shall submit a copy of the law to the Department. If the Department receives a copy of the law on or before May 1, the change shall be effective for the taxable year following the date the law is enacted.

HISTORY: An. Code 1957, art. 81, § 9A; 1985, ch. 8, § 2; ch. 18; 1986, ch. 171; 1998, ch. 14.

                    
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