State Codes and Statutes
Statutes > Maryland > Tax-property > Title-8 > Subtitle-1 > 8-107§ 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.]
