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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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TAX - PROPERTY |
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TITLE 9. PROPERTY TAX CREDITS AND PROPERTY TAX RELIEF |
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SUBTITLE 4. COUNTIES TO WHICH GENERAL PROVISIONS ARE NOT APPLICABLE |
§ 9-401. Newly constructed or substantially rehabilitated dwellings that are unsold, unrented, and unoccupied in Baltimore City
Latest version.
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(a) "Dwelling" defined. -- In this section, "dwelling":
(1) means a newly constructed or substantially rehabilitated dwelling in Baltimore City, that is unsold, unrented, and unoccupied; and
(2) does not include land.
(b) Applicability. -- A property tax credit granted under this section applies only to the county property tax.
(c) Tax credit not exceeding 100%. -- The governing body of Baltimore City may grant a property tax credit not exceeding 100% against the county tax imposed on the dwelling.
(d) Restrictions. --
(1) A property tax credit under this section may not be granted:
(i) for any dwelling that is used as an office or sample home by the builder or the owner; or
(ii) for more than 3 dwellings of an owner each year.
(2) This section does not change the regular assessment procedures that are applicable in Baltimore City.
(e) Procedures. -- The governing body of Baltimore City may provide for procedures necessary to apply for a property tax credit under this section.
(f) Certification. -- When the owner of a dwelling applies to the governing body of Baltimore City for a property tax credit under this section, the owner shall certify that the dwelling is unsold, unrented, and unoccupied.
(g) Notice required. -- A recipient of a property tax credit under this section shall send immediately to the governing body of Baltimore City a notice that the dwelling has been sold, rented, or occupied.
(h) Duration. -- A property tax credit granted under this section is available:
(1) as long as the dwelling remains unsold, unrented, and unoccupied; and
(2) over a continuous period of time not exceeding 1 year for any dwelling.
(i) Failure to comply. -- If a recipient of a property tax credit under this section fails to comply with the provisions of this section, the property tax credit under this section is forfeited immediately.