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ROBERT L. EHRLICH, JR., Governor H.B. 5
2. the aggregate of gifts over $300;
3. alimony;
4. support money;
5. any nontaxable strike benefit;
6. public assistance received in a cash grant;
7. a pension;
8. an annuity;
9. any unemployment insurance benefit;
10. any workers' compensation benefit;
11. the net income received from a business, rental, or other
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endeavor; [and]
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12. ANY WITHDRAWAL, PAYMENT, OR DISTRIBUTION FROM
AN INDIVIDUAL RETIREMENT ACCOUNT;
13. ANY WITHDRAWAL, PAYMENT, OR DISTRIBUTION FROM
ANY QUALIFIED RETIREMENT SAVINGS PLAN; AND
[12.] 14. any rent on the dwelling, including the rent from a
room or apartment.
(iii) "Gross income" does not include:
1. any income tax refund received from the State or federal
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government; or
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2. any loss from business, rental, or other endeavor.
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(13) "Total real property tax" means the product of the sum of all property
tax rates on real property, including special district tax rates, for the taxable year on
a dwelling, multiplied by the lesser of:
(i) [$150,000] $250,000 $300,000; or
(ii) the assessed value of the dwelling reduced by the amount of any
assessment on which a property tax credit is granted under § 9-105 of this subtitle.
(g) (1) Except as provided in subsection (g-1) of this section, the property
tax credit under this section is the total real property tax of a dwelling, less the
percentage of the combined income of the homeowner that is described in paragraph
(2) of this subsection.
(2) The percentage is:
(i) 0% of the 1st [$4,000] $10,000 $8,000 of combined income;
(ii) 1% of the [2nd] NEXT $1,000 of combined income;
- 3501 -
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