[Adopted 11-23-82 as Ord. No. 87]
Pursuant to the authority conferred by Article
81, § 9A(m), of the Annotated Code of Maryland, the commercial
inventory tax (stock in business) provided for by Article 81, § 9A(e),
of the Annotated Code of Maryland as the commercial inventory of every
person, firm or corporation engaged in any manufacturing or commercial
business in Dorchester County shall be assessed and taxed by the phased-out
schedule as follows:
A.
For the 1983-1984 tax year, a reduction to 50% of
the total assessed value.
B.
For the 1984-1985 tax year, a reduction to 40% of
the total assessed value.
C.
For the 1985-1986 tax year, a reduction to 30% of
the total assessed value.
D.
For the 1986-1987 tax year, a reduction to 20% of
the total assessed value.
E.
For the 1987-1988 tax year, a reduction to 10% of
the total assessed value.
F.
For the 1988-1989 tax year and thereafter, a reduction
to 0% of the assessed value.
A.
Following adoption, this Article, certified by the
President of the County Commissioners and attested to by the Administrative
Assistant to the Board, shall be filed with the Clerk of the Circuit
Court for Dorchester County, who shall record the same as set forth
in Article 25, § 4(b), of the Annotated Code of Maryland
(1981 Cumulative Supplement).
B.
Following the aforesaid filing and recordation, a
fair summary of this article shall be published one time in at least
one newspaper of general circulation in Dorchester County.
