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LAWS OF MARYLAND

Ch. 848

Article 81 - Revenue and Taxes

Section 12F-l(c) and 12F-3(c)

Annotated Code of Maryland

(1980 Replacement Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article 81 - Revenue and Taxes

12F-1.

(c) A property tax credit, not to exceed [$900] $1,200
$1,050 FOR TAXABLE YEAR 1982-1983 ONLY AND $1,200 FOR ALL
SUBSEQUENT TAXABLE YEARS, shall be allowed upon the
application of any homeowner from total real property taxes
upon the dwelling for which application for the tax credit
is made. The tax credit shall be equal to the amount of
total real property taxes in excess of a percentage of the
gross income, or combined income, as the case may be, of the
homeowner. The percentage [may not exceed 1.5] IS 1.125
PERCENT FOR TAXABLE YEAR. 1982-1983 ONLY AND 0 .75 percent
FOR ALL SUBSEQUENT TAXABLE YEARS of the first $4,000 of
combined income, 3.5 percent of the next $4,000, 5.5 percent
of the next $4,000, 7.5 percent of the next $4,000, and 9.0
percent of all combined income over $16,000. The credit
shall not be allowed to any homeowner whose combined net
worth is in excess of $200,000 as of December 31 of the
calendar year preceding the year in which the application is
made for the tax credit. If the amount of the credit
calculated is less than $1 for any year, a credit will not
be allowed for that year.

12F-3.

(c) A renter may receive, upon application to the
State Department of Assessments and Taxation, property tax
relief from rent paid which consists of payment of a portion
of the assumed real property tax included in the occupancy
rent paid by the renter. The payment shall not exceed $450
and shall be equal to the amount of assumed real property
tax included in occupancy rent which is in excess of a
percentage of the gross income, or combined income, of the
renter. The percentage shall not exceed IS 1.125 PERCENT
FOR TAXABLE YEAR 1982-1983 ONLY AND [1.5] .75 percent FOR
ALL SUBSEQUENT TAXABLE YEARS of the first $4,000 of combined
income, 3.5 percent of the next $4,000 of combined income,
5.5 percent of the next $4,000 of combined income, 7.5
percent of the next $4,000 of combined income, and 9 percent
of all combined income in excess of $16,000. The credit may
not be allowed to any renter whose combined net worth is in
excess of $200,000 as of December 31 of the calendar year.