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ROBERT L. EHRLICH, JR., Governor
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Ch. 616
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1. the homestead credit percentage established by the county
under paragraph (3) of this subsection; or
2. if the county has not set a percentage for the taxable year
under paragraph (3) of this subsection or has not notified the Department as required
under paragraph (6) of this subsection, the homestead credit percentage in effect for
the county for the preceding taxable year; and
(iii) for the municipal corporation property tax:
1. the homestead credit percentage established by the
municipal corporation under paragraph (4) of this subsection; or
2. if the municipal corporation has not set a percentage
under paragraph (4) of this subsection or has not notified the Department as required
under paragraph (7) of this subsection, the homestead credit percentage for the
taxable year for the county in which the property is located.
(3) Subject to paragraph (5) of this subsection, the Mayor and City
Council of Baltimore City and the governing body of a county on or before November
15 of any year shall set, by law, the homestead credit percentage for the taxable year
beginning the following July 1.
(4) Subject to paragraph (5) of this subsection, on or before November 25
of any year, the governing body of a municipal corporation may set or alter, by law, a
homestead credit percentage for the taxable year beginning the following July 1 and
any subsequent taxable year.
(5) The homestead credit percentage for any county or municipal
corporation property tax:
(i) may not be less than 100% or exceed 110% for any taxable year;
and
(ii) shall be expressed in increments of 1 percentage point.
(6) The Mayor and City Council of Baltimore City and the governing
body of a county shall notify the Department of any action taken under paragraph (3)
of this subsection on or before November 15 preceding the taxable year for which the
action is taken.
(7) A municipal corporation shall notify the Department of any action
taken under paragraph (4) of this subsection on or before November 25 preceding the
taxable year for which the action is taken.
(f) The Department shall give notice of the possible property tax credit under
this section.
(g) A homeowner who meets the requirements of this section shall be granted
the property tax credit under this section against the State, county, and municipal
corporation property tax imposed on the real property of the dwelling.
- 3485 -
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