Supervisor of Assessments v. Chase Associates

MURPHY, Chief Judge.

Since 1979, the State Department of Assessments and Taxation has reviewed all real property assessments on a staggered triennial basis. See Maryland Code (1957, 1980 Repl.Vol.), Article 81, § 232(8). 1 Under the statutory procedure, the Department reviews each year one-third of the assessable real property in the state. The property is then assessed for a three-year period beginning on the next “semiannual date of finality,” July 1. The assessment is derived from the property’s full cash value on the “date of finality,” January 1, preceding the three-year cycle. See §§…