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2018 Maryland Code
Real Property
Title 14 - Miscellaneous Rules
Subtitle 5 - Affordable Housing Land Trusts
§ 14-509. Tax assessment
Universal Citation: MD Real Prop Code § 14-509 (2018)
(a) Market value. -- 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.
(b) Notation of nature of sale on tax record. -- The assessment shall note that the sale was not an arms-length transfer on the property tax record.
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