<?xml version='1.0' encoding='utf-8'?>
<section article="gtp" article_name="Tax - Property" number="8-107" title_number="8" title_name="Valuation and Assessment" subtitle_number="1" subtitle_name="General Provisions and Valuation">
  <level label="a">
    <text>Except as provided under § 8-110 of this subtitle, the value of personal property shall be its value on the date of finality.</text>
  </level>
  <level label="b">
    <text>In valuing any personal property acquired by purchase, lease purchase, or other similar agreement for transfer of title to the personal property after a period of its use, the Department shall consider any sum that is paid to acquire the personal property.</text>
  </level>
</section>
