4350

COUNTY LOCAL LAWS

COUNTY, MARYLAND, that -

Sec. 1. Section 52—11, title "Tax Credits for
Persons Over Sixty—five Years of Age", of Chapter 52,
title "Taxation", of the Montgomery County Code 1972, is
hereby repealed in its entirety and a new Section 52—11
is enacted to read as follows;

5 2-11.

A.    TAX CREDITS FOR PERSONS OVER SIXTY-FIVE YEARS
OF AGE. PURSUANT TO SECTION 12D, ARTICLE 81 OF THE
ANNOTATED CODE OF MARYLAND, 1972 SUPPLEMENT, A TAX CREDIT
UPON THE DWELLING HOUSE OF ONE OR MORE HOMEOWNERS AND THE
LOT OR CURTILAGE WHERE THE SAME IS ERECTED, NOT TO EXCEED
THE AMOUNT DERIVED BY APPLYING THE COUNTY TAX, THE COUNTY
SCHOOL TAX, AND THE SPECIAL AREA TAX RATES TO ASSESSMENTS
AS PROVIDED IN PARAGRAPH 3 HEREOF, SHALL BE ALLOWED TO
TAXPAYERS WHO APPLY AND MEET ALL OF THE FOLLOWING
CONDITIONS FOR SUCH TAX CREDIT:

1.    ON OR BEFORE JULY 1 OF THE FISCAL YEAR FOR
WHICH APPLICATION FOR TAX CREDIT IS MADE, THE HOMEOWNER
BUST HAVE ATTAINED THE AGE OF 65 YEARS, OR A HOMEOWNER
WHO HAS NOT ATTAINED THE AGE OF 65 YEARS MUST BE
RECEIVING BENEFITS AS A RESULT OF A FINDING OF PERMANENT
AND TOTAL DISABILITY UNDER THE SOCIAL SECURITY SYSTEM, OR
BY AN APPROPRIATE AGENCY OF A MUNICIPAL CORPORATION,
COUNTY, STATE OR FEDERAL GOVERNMENT OR THE DISTRICT OF
COLUMBIA.

2.    THE HOMEOWNER MUST RESIDE ON AND HAVE     LEGAL
INTEREST IN THE PROPERTY TO WHICH THE CREDIT WILL   APPLY
AND THE DWELLING MUST BE THE PRINCIPAL RESIDENCE OF     SUCH
HOMEOWNER.

3.    A HOMEOWNER SHALL BE ELIGIBLE FOR A TAX CREDIT
IF THE TOTAL INCOME OR COMBINED TOTAL INCOME DOES NOT
EXCEED $10,000 FOR THE CALENDAR YEAR IMMEDIATELY
PRECEDING THE TAXABLE YEAR FOR WHICH CREDIT IS CLAIMED.
THE AMOUNT OF THE TAX CREDIT SHALL BE THE AMOUNT DERIVED
BY APPLYING THE COUNTY TAX, THE COUNTY SCHOOL TAX, AND
THE APPLICABLE SPECIAL AREA TAX RATES TO THAT PORTION OF
THE REAL PROPERTY ASSESSMENT WHICH EQUALS THE DIFFERENCE
BETWEEN $14,000 AND THE TOTAL INCOME FROM ALL SOURCES.

B.    IN THE EVENT A HOMEOWNER WHO IS ELIGIBLE FOR A
TAX CREDIT UNDER THIS SECTION RECEIVED A LOCAL TAX CREDIT
FOR A PRECEDING TAXABLE YEAR AND THE INCOME OR COMBINED
INCOME OF THAT HOMEOWNER IN THE SUCCEEDING YEAR WOULD
HAVE BEEN WITHIN THE ELIGIBILITY LIMITS OF THE PRECEDING
YEAR, THE AMOUNT OF ASSESSMENT CREDIT ALLOWED UNDER THIS
SECTION SHALL NOT BE LESS THAN THE AMOUNT OF CREDIT
RECEIVED FOR SUCH PRIOR TAXABLE YEAR. IN NO EVENT SHALL