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Maryland Code, Tax-Property § 8-418

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) After any personal property that is subject to assessment by § 8-417(d) of this subtitle as escaped property is assessed, the Department shall determine if:

(1) the owner failed to report accurately the cost or other information as to the escaped property; and

(2) the failure to report accurately caused the escaped property to be assessed at less than its value.

(b)(1) Notice of the assessment of escaped property under § 8-417(d) of this subtitle and the imposition of any penalty under § 14-705 of this article shall be given as provided by § 14-402 of this article.

(2) The notice shall separately state:

(i) the assessment of the escaped property; and

(ii) the penalty imposed under § 14-705 of this article.

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Cite this article: FindLaw.com - Maryland Code, Tax-Property § 8-418 - last updated January 01, 2025 | https://codes.findlaw.com/md/tax-property/md-code-tax-property-sect-8-418/

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