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5364
COUNTY LOCAL LAWS
title "Tax credits for persons over sixty-five years of
age", of Chapter 52, title "Taxation", of the Montgomery
County Code 1972, to provide an additional real property
tax credit for an owner of a Membership in a cooperative
over 65 years of age; to provide qualifications and
conditions for elegibility for receipt of the tax credit.
BE IT ENACTED BY THE COUNTY COUNCIL FOR MONTGOMERY
COUNTY, MARYLAND, that -
Section 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 amended and a new subsection (g) is added to read
as follows:
52—11. Tax credits for persons over sixty—five years of
age.
(G) A SINGLE TAX CREDIT TO AN OWNER OF A
MEMBERSHIP IN A COOPERATIVE, TO BE APPLIED ON BEHALF OF
THE MEMBER TO THE COOPERATIVE'S REAL PROPERTY ASSESSMENT,
SHALL BE ALLOWED TO PERSONS WHO APPLY AND MEET ALL OF THE
FOLLOWING CONDITIONS FOR SUCH TAX CREDIT;
1. ON OR BEFORE JULY 1 OF THE TAXABLE YEAR FOR
WHICH TAX CREDIT IS CLAIMED:
A. AN OWNER IS 65 YEARS OF AGE; OR
B. AN OWNER WHO IS NOT 65 YEARS OF
AGE IS RECEIVING BENEFITS AS A RESULT OF A FINDING OF
PERMANENT AND TOTAL DISABILITY UNDER THE SOCIAL SECURITY
ACT, OR UNDER THE RAILROAD RETIREMENT ACT, OR BY AS
AGENCY OF A MUNICIPAL CORPORATION, COUNTY, STATE OR
FEDERAL GOVERNMENT OR THE DISTRICT OF COLUMBIA; OR
C. AN OWNER IS NOT AND HAS NOT BEEN
SUBJECT TO A DISABILITY PROGRAM OF A GOVERNMENT OR PUBLIC
AGENCY, AND THE OWNER HAS BEEN FOUND AND CERTIFIED
PERMANENTLY AND TOTALLY DISABLED, AND THE FINDING AND
CERTIFICATION OF TOTAL AND PERMANENT DISABILITY IS
REVIEWED AND APPROVED BY THE COUNTY.
2. AN OWNER MUST HAVE OCCUPIED A UNIT OF THE
COOPERATIVE AS HIS PRINCIPAL PLACE OF RESIDENCE ON JULY 1
OF THE TAXABLE YEAR FOR WHICH CREDIT IS CLAIMED.
3. AN OWNER 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 TAX CREDIT
SHALL BE COMPUTED BY DEDUCTING TOTAL INCOME FROM ALL
SOURCES FROM THE SUM OF $14,000.00. THE REMAINDER SHALL
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