Assembly approves bill to stop mid-cycle

INDUSTRY WATCH

April 14, 2002

The General Assembly passed an emergency bill on the final day of the 2002 session, prohibiting municipalities from appealing property tax assessments out of the traditional three-year cycle.

The legislation, which passed in the Senate 43-0 and in the House of Delegates 126-1, stops a practice used in recent years by Montgomery County officials who would reassess homebuyers if the property purchased had a value of more than $150,000 over its current assessment. The state estimates the legislation would cause the county to lose $4.3 million in revenue for fiscal year 2003.

"This was a bad practice that is now going to end," said Ronald W. Wineholt, director of the state's Department of Assessments and Taxation and who testified on behalf of the legislation.

As emergency legislation, it will go into effect immediately upon the governor's signature.

News in brief

The Greater Baltimore Board of Realtors

announced that its 2002 Leadership Academy closing ceremony and dinner will be held April 23 at the Marriott Hunt Valley Inn from 6 p.m. to 9 p.m. Guest speaker will be Vincent Quayle, founder of the St. Ambrose Housing Aid Center and recent recipient of the National Association of Realtors Hope Award for Leadership.

Griffith-Brilhart Builders

celebrated its 25th anniversary on April 1. Co-owner Dwight Griffith, his brother Daryl and their partner George Brilhart founded the Harford County-based company, which builds homes in the $300,000 to $2 million price range.

Calendar

Tomorrow:

Long & Foster Real Estate Inc. is holding a free seminar on real estate careers at its Hunt Valley office. Call: 410-560-1700 for time; Roland Park and Mount Vernon offices, 6 p.m. Call: 410-889-9800.

Tomorrow:

Greater Baltimore Board of Realtors is holding a class on auctions from 9:30 a.m. to 12:30 p.m. at its Lutherville office, 1306 Bellona Ave. Call: 410- 377-7200.

Tuesday:

Long & Foster Real Estate Inc. is holding a free seminar on real estate careers at its Pasadena office at 6:30 p.m. Call: 410-437-9000; Towson Center office, 7 p.m. Call: 410-825- 6400.

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