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MARVIN MANDEL, Governor 3615
FOR THE PRECEDING YEAR INCREASED BY AN AMOUNT EQUAL TO
THE RATE OF INFLATION FOR THE 12-MONTH PERIOD PRECEDING
THE DATE OF FINALITY AS DETERMINED BY THE CONSUMER PRICE
INDEX (ALL CITIES) OF THE BUREAU OF LABOR STATISTICS OF
THE U.S. DEPARTMENT OF LABOR OR, IN THE ALTERNATIVE BY
THE DEPARTMENT OF STATE PLANNING OF THE MARYLAND STATE
GOVERNMENT, MULTIPLIED BY THE APPLICABLE TAX RATE.
(A) FOR THE TAXABLE YEARS 1977-1978 AND 1978-1979
EACH COUNTY. BALTIMORE CITY AND ANY INCORPORATED
MUNICIPALITY SHALL GRANT A HOMEOWNERS' TAX CREDIT IN
ACCORDANCE WITH THIS SUBSECTION AGAINST THE COUNTY.
BALTIMORE CITY OR MUNICIPAL PROPERTY TAXES IMPOSED BY
THAT JURISDICTION ON REAL PROPERTY.
(B) (l) IN THIS SECTION THE FOLLOWING WORDS HAVE
THE MEANINGS INDICATED:
(2) "LEGAL INTEREST" MEANS AN ESTATE IN THE
DWELLING WHETHER AS SOLE OWNER. JOINT TENANT, TENANT IN
COMMON. TENANT BY THE ENTIRETIES, OR THROUGH MEMBERSHIP
IN A COOPERATIVE, AND INCLUDES A LIFE ESTATE.
(3) "HOMEOWNER" MEANS A PERSON WHO BY JULY 1
OF THE TAXABLE YEAR FOR WHICH THE REAL PROPERTY TAX
EXEMPTION IS TO BE ALLOWED ACTUALLY RESIDES IN A DWELLING
IN WHICH THE PERSON HAS A LEGAL INTEREST.
(4) "DWELLING" MEANS THE DWELLING HOUSE OF
ONE OR MORE HOMEOWNERS AND THE LOT OR CURTILAGE WHERE IT
IS ERECTED. WHICH IS USED AS THE "PRINCIPAL RESIDENCE OF
THAT HOMEOWNER, OR HOMEOWNERS. A DWELLING INCLUDES A
CONDOMINIUM PARCEL OCCUPIED BY ITS OWNER. IT ALSO
INCLUDES AN APARTMENT IN A COOPERATIVE APARTMENT
CORPORATION OCCUPIED BY THE PERSON HAVING A LEGAL INTEREST
IN THE APARTMENT. IT ALSO INCLUDES A PORTION OF REAL
PROPERTY USED OTHER THAN PRIMARILY FOR RESIDENTIAL
PURPOSES, IF THE PROPERTY IS USED AS A PRINCIPAL
RESIDENCE BY THE PERSON HAVING A LEGAL INTEREST IN FOR
THAT PROPERTY. IN THIS CASE, THE DEPARTMENT OF
ASSESSMENTS AND TAXATION SHALL APPORTION THE TOTAL
PROPERTY ASSESSMENT BETWEEN THAT PORTION OF THE PROPERTY
USED FOR RESIDENTIAL PURPOSES AND THAT PORTION OF THE
PROPERTY USED OTHER THAN FOR RESIDENTIAL PURPOSES. A
DWELLING MAY NOT BE DEEMED A PRINCIPAL RESIDENCE WHICH IS
NOT ACTUALLY OCCUPIED OR EXPECTED TO BE ACTUALLY OCCUPIED
BY THE HOMEOWNER OR HOMEOWNERS FOR MORE THAN SIX MONTHS
OF A 12-MONTH PERIOD BEGINNING WITH THE DATE OF FINALITY.
A HOMEOWNER, OTHERWISE ELIGIBLE. MAY NOT QUALIFY FOR THE
CREDIT IF HE DOES NOT ACTUALLY RESIDE IN THE DWELLING THE
REQUIRED TIME PERIOD BECAUSE OF ILLNESS OR NEED OF
SPECIAL CARE. A HOMEOWNER OR HOMEOWNERS MAY CLAIM CREDIT
IN ONLY ONE DWELLING.
(C) THE CREDIT SHALL BE GRANTED PROVIDED THE
FOLLOWING CONDITIONS ARE MET:
(1) THE PROPERTY HAS NOT BEEN TRANSFERRED
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