In this section, “taxing authority” means: the county council or board of county commissioners of a county; the City Council of Baltimore City; and the governing body of a municipal corporation. On or before February 14 of each year, the Department shall send each taxing authority: an estimate of the total assessment of all real property in the county or municipal corporation for the next taxable year; if requested by a taxing authority in accordance with subsection (c)(1) of this section, the constant yield tax rate; and an estimate of the total assessment: of all new construction and improvements in the county or municipal corporation not assessed since the last date of finality; and of all real property in the county or municipal corporation that may be deleted from the assessment records. The Department shall notify each taxing authority of any change in the estimated assessment of all real property in the county or the municipal corporation that results from actions of a property tax assessment appeal board or the Maryland Tax Court. A taxing authority may, on or before February 1 each year, request that the Department calculate and notify the taxing authority of the constant yield tax rate that will provide the same property tax revenue that is provided by the real property tax rate that is in effect for the current taxable year. In calculating a constant yield tax rate for a taxable year, the Department shall use an estimate of the total assessment of all real property for the next taxable year exclusive of real property that appears for the 1st time on the assessment records. The Department may amend a constant yield tax rate only as provided in this paragraph. On or before April 15 each year, the Department may amend a constant yield tax rate when a county or municipal corporation alters the homestead tax credit percentage under § 9–105 of this article. On or before May 15 each year, the Department may amend a constant yield tax rate: when directed to make a change by an enactment of the General Assembly; to correct an error in the calculation of the constant yield tax rate; or to reflect a significant loss of taxable base, as determined by the Director.