Md. Code, Tax - Property § 8–107

(a) Except as provided under § 8-110 of this subtitle, the value of personal property shall be its value on the date of finality.

(b) 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.