§ 14-5. Property tax.

(a) Advertisements.

If a seller of real property provides property tax information as part of an advertisement, that information must indicate, at a minimum:

(1) the tax year for which the information is being provided; and

(2) the product of:

(i) the sum of the State and local property tax rates, multiplied by

(ii) the full assessed value for the tax year indicated.

(b) Estimate of closing costs.

Property tax information to be provided as part of a good-faith estimate of closing costs must be based on the product of:

(1) the sum of the State and local property tax rates, multiplied by

(2) the full assessed value for the tax year immediately following the purchase date of the property.

(c) Penalties.

Any person who violates any provision of this section is guilty of a misdemeanor and, on conviction, is subject to a fine of not more than $1,000 for each offense.