Court of Appeals of Maryland September 30, 1986, 54, September Term, 1985 (St. Leonard Shores Joint Venture v. Supervisor of Assessments)

COLE, Judge.

The question presented in this case is whether the Supervisor of Assessments of Calvert County erred in determining the full cash value, for property tax purposes, of 105 unsold lots in a subdivision without taking into account the projected “sell-out period” of the lots.

We distill the facts giving rise to this issue as follows. In 1978, appellant, St.