# Tax - Property (GTP)

## Title 8. Valuation and Assessment

### Subtitle 4. Assessment Preparation and Modification

#### Section 8-418

(a) After any personal property that is subject to assessment by Sec. 8-417(d) of this subtitle as escaped property is assessed, the Department shall determine if:

  (1) the owner failed to report accurately the cost or other information as to the escaped property; and

  (2) the failure to report accurately caused the escaped property to be assessed at less than its value.

(b)

  (1) Notice of the assessment of escaped property under Sec. 8-417(d) of this subtitle and the imposition of any penalty under Sec. 14-705 of this article shall be given as provided by Sec. 14-402 of this article.

  (2) The notice shall separately state:

    (i) the assessment of the escaped property; and

    (ii) the penalty imposed under Sec. 14-705 of this article.

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Md. Code Ann., Tax-Prop. (as displayed at mgaleg.maryland.gov, October 16, 2026)