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Ch. 89
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ROBERT L. EHRLICH, JR., Governor
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2. subsequently repaired or reconstructed;
(ii) the dwelling is revalued after the dwelling is repaired or
reconstructed; and
(iii) as a result of the revaluation, the assessment of the dwelling
exceeds the last assessment of the dwelling; and
(3) the homeowner claiming the exemption had a legal interest in the
dwelling at the time the dwelling was damaged or destroyed as described under item
(2) of this subsection.
(b) A homeowner may receive a tax credit under this section only if the
homeowner qualified for and received a tax credit under § 9-109 of this subtitle and
is no longer receiving a tax credit under § 9-109 of this subtitle.
(c) The amount of the property tax credit allowed under this section shall
equal 50% of the property tax attributable to an increase in the assessment of the
dwelling upon revaluation under § 8-104(c)(1)(iii) of this article, including
improvements, over the last assessment of the dwelling before the natural disaster,
less the amount of any assessment on which a property tax credit under § 9-105 of
this subtitle has been authorized.
(d) A credit under this section may not be granted for more than 3 years.
(e) The Mayor and City Council of Baltimore City or the governing body of a
county or municipal corporation shall:
(1) establish procedures or requirements for the application, review, and
approval of tax credits under this section; and
(2) notify the Department of any credits that have been granted under
this section.
(f) The credit under this subsection may not be claimed for a dwelling for
which repair or reconstruction is completed:
(1) before September 18, 2003; or
(2) after December 31, 2006.]
9-243.
(A) SUBJECT TO SUBSECTION (B) OF THIS SECTION, THE MAYOR AND CITY
COUNCIL OF BALTIMORE CITY OR THE GOVERNING BODY OF A COUNTY OR OF A
MUNICIPAL CORPORATION MAY GRANT A TAX CREDIT UNDER THIS SECTION
AGAINST THE COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX IMPOSED ON
REAL PROPERTY IF:
(1) THE HOMEOWNER IS OTHERWISE ELIGIBLE FOR THE CREDIT
ALLOWED UNDER § 9-105 OF THIS TITLE;
(2) (I) THE DWELLING IS:
- 629 -
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