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ROBERT L. EHRLICH, JR., Governor Ch. 160
(iv) the assessment of the dwelling was clearly erroneous due to an
error in calculation or measurement of improvements on the real property.
(2) A homeowner must actually reside in the dwelling by July 1 of the
taxable year for which the property tax credit under this section is to be allowed.
(3) A homeowner may claim a property tax credit under this section for
only 1 dwelling.
(4) If a property tax credit under this section is less than $1 in any
taxable year, the tax credit may not be granted.
(5) (i) If the dwelling was transferred for consideration [to new
ownership] IN A DEED DATED on or after January 1 but before the beginning of the
next taxable year and [the property has not been transferred on the assessment
rolls] THE DEED HAS NOT BEEN RECORDED WITH THE CLERK OF THE CIRCUIT
COURT OR THE DEPARTMENT prior to the beginning of the next taxable year[:
1. the new owner may submit a written application for the
property tax credit under this section to the Department within 60 days after the date
of the transfer; and
2. if the deed is recorded on or after July 1 of the next taxable
year:
A. ], the NEW OWNER MAY SUBMIT A WRITTEN APPLICATION
TO THE DEPARTMENT WITHIN 60 DAYS AFTER THE DATE OF THE DEED REQUESTING
THAT THE DATE OF THE DEED BE ACCEPTED BY THE DEPARTMENT AS THE DATE OF
TRANSFER UNDER PARAGRAPH (1) OF THIS SUBSECTION.
(II) 1. THE applicant shall submit with the written application a
copy of the executed deed evidencing the date of the transfer[; and].
[B.] 2. [if] IF the applicant fails to submit a copy of the
executed deed as required under [item A of this item] SUBSUBPARAGRAPH 1 OF THIS
SUBPARAGRAPH, the Department shall deny the application.
[(ii)](III) The date of the transfer under this paragraph is the
effective date of the deed as described under § 3-201 of the Real Property Article.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2006.
Approved April 25, 2006.
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- 845 -
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