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Session Laws, 2005
Volume 752, Page 3488   View pdf image
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2005 LAWS OF MARYLAND
Ch. 616
(IX) 10% FOR THE 9TH TAXABLE YEAR IN WHICH THE HOMEOWNER
CLAIMS THE CREDIT; AND (X) 0% FOR EACH TAXABLE YEAR THEREAFTER. (3) (I) IN ORDER TO QUALIFY FOR THE TAX CREDIT UNDER THIS
SUBSECTION, A HOMEOWNER CLAIMING THE CREDIT MUST APPLY TO THE
DEPARTMENT AS PRESCRIBED BY THE DEPARTMENT BY REGULATION. (II) THE APPLICATION SHALL ESTABLISH TO THE SATISFACTION OF
THE DEPARTMENT THAT THE APPLICANT IS ELIGIBLE FOR THE TAX CREDIT
ALLOWED UNDER THIS SUBSECTION. (IIII) IF APPROVED BY THE DEPARTMENT UNDER THIS PARAGRAPH,
THE TAX CREDIT UNDER THIS SUBSECTION SHALL BE INCLUDED ON THE
HOMEOWNER'S PROPERTY TAX BILL. 9-109.1. (A) SUBJECT TO SUBSECTION (B) OF THIS SECTION, THE MAYOR AND CITY
COUNCIL OF BALTIMORE CITY AND THE GOVERNING BODY OF EACH COUNTY AND OF
EACH MUNICIPAL CORPORATION SHALL 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 SUBTITLE; (2)      (I) THE DWELLING IS: 1. DAMAGED OR DESTROYED DUE TO A NATURAL DISASTER;
AND
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) - 3488 -


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Session Laws, 2005
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