Maryland § 8-103
Full text of Maryland Maryland Code § 8-103, with citation guidance and answers to common questions.
§ 8-103.
(a) (1) In this section the following words have the meanings indicated.
(2) “New statewide value” means the phased in value of all real property subject to property tax on January 1 preceding any taxable year, excluding the phased in value of real property assessed for the 1st time during the calendar year beginning on that January 1.
(3) “Phased in value” means for the 1st, 2nd, or 3rd year of a 3-year cycle:
(i) the prior value of real property increased by one-third, two-thirds, or the full amount by which the value increased over the prior value based on a physical inspection of the real property; or
(ii) if the value of real property has not increased, the value determined in the most recent valuation.
(4) “3-year cycle” means a continuous series of 3 calendar year periods beginning for each period with the 1st calendar year after the calendar year in which a physical inspection of real property is made under § 8-104(b) of this subtitle.
(b) On or before January 1 of each year, the Department shall determine the new statewide value.
(c) (1) Except as provided in this subsection, the assessment of real property is its phased in value.
(2) The assessment of the real property described in § 8-102(b) of this subtitle is its phased in use value.
(3) The assessment of the operating real property described in § 8-108(c) of this subtitle is its value.
(4) The assessment of the operating real property described in § 8-109(c) of this subtitle is its value.
Frequently Asked Questions About Maryland § 8-103
What does Maryland Code § 8-103 cover?
Section 8-103 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 8-103?
A common citation format is "Maryland Code § 8-103" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 8-103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.