Md. Code, TP § 14-704 Tax Penalty - When Annual Report Not Submitted

• Library: Maryland Statutes
• Edition: 2023
• Currency: Current through November 23, 2023
• Year: 2023
• Citation: Md. Code, TP § 14-704

(a)

(1) If the annual report is not submitted as required by § 11-101 of this article, the Department shall assess:

(i) an initial tax penalty not exceeding 1/10 of 1% of the total county assessment in all counties where property is located; and

(ii) an additional penalty of 2% of the initial tax penalty for each 30 days or fraction of a 30-day period that the report is not submitted.

(2) The initial penalty under paragraph (1) of this subsection may not be more than $500 or less than:

(i) $30 if 1 to 15 days late;

(ii) $40 if 16 to 30 days late; or

(iii) $50 if over 30 days late.

(b) The Department may abate or reduce the tax penalty under subsection (a) of this section when good cause is shown.