(a) For assessment purposes, property shall be divided into classes and subclasses. (b) Real property is a class of property and is divided into the following subclasses: (1) land that is actively devoted to farm or agricultural use, assessed under § 8-209 of this title; (2) marshland, assessed under § 8-210 of this title; (3) woodland, assessed under § 8-211 of this title; (4) land of a country club or golf course, assessed under §§ 8-212 through 8-217 of this title; (5) land that is used for a planned development, assessed under §§ 8-220 through 8-225 of this title; (6) rezoned real property that is used for residential purposes, assessed under §§ 8-226 through 8-228 of this title; (7) operating real property of a railroad; (8) operating real property of a public utility; (9) property valued under § 8-105(a)(3) of this subtitle; (10) conservation property, assessed under § 8-209.1 of this title; and (11) all other real property that is directed by this article to be assessed. (c) Personal property is a class of property and is divided into the following subclasses: (1) stock in business; (2) distilled spirits; (3) operating personal property of a railroad; (4) operating personal sonal property is a class of property and is divided into the following subclasses: (1) stock in business; (2) distilled spirits; (3) operating personal property of a railroad; (4) operating personal property of a public utility that is machinery or equipment used to generate electricity or steam for sale; (5) all other operating personal property of a public utility; (6) machinery and equipment, other than operating personal property of a public utility, that is used to generate: (i) electricity or steam for sale; or (ii) hot or chilled water for sale that is used to heat or cool a building; and (7) all other personal property that is directed by this article to be assessed.
Maryland Legal Code