§ 11-3-209. SAME - PERPETUALLY RENEWABLE GROUND RENT.

Latest version.

(a)

General principle. The transfer tax for a perpetually renewable ground rent shall be based on the true, full, and complete value of the ground rent as stated by the person paying the tax.

(b)

Director may base tax on capitalization of the ground rent. If the taxpayer is unable to show affirmatively to the Director what the true, full, and complete value of the ground rent is, the Director shall base the tax on the value of the property transferred based on a capitalization as provided in § 8-110 of the Real Property Article of the Annotated Code of Maryland.

(1988 Code, § 33-132) (Bill No. 49-96, § 20, 7-1-1996; Bill No. 33-03, § 2, 7-1-2004)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');