EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: Councilmember Curran
A BILL ENTITLED
AN ORDINANCE concerning
Title
Tax Sales - Redemption Rate
FOR the purpose of reducing the interest rate applicable to redemptions of property from tax sales; and clarifying and conforming certain language.
Body
BY repealing and reordaining, with amendments
Article 28 - Taxes
Section(s) 8-1
Baltimore City Code
(Edition 2000)
SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That the Laws of Baltimore City read as follows:
Baltimore City Code
Article 28. Taxes
Subtitle 8. Tax Sales
§ 8-1. Interest rate on redemptions from tax sales.
Pursuant to the [authorization contained in] AUTHORITY OF State Tax-Property Article §14-820(b)(3), the interest rate applicable to redemptions of property from tax sales in Baltimore City is [18%] 12% a year.
SECTION 2. AND BE IT FURTHER ORDAINED, That the catchlines contained in this Ordinance are not law and may not be considered to have been enacted as a part of this or any prior Ordinance.
SECTION 3. AND BE IT FURTHER ORDAINED, That this Ordinance takes effect on the 30th day after the date it is enacted.
dlr06-673~intro/23Feb06
art28/RedmptnRate/aa:me