Maryland Statutes
Subtitle 2 - Statewide Optional
Section 9-243 - Repaired or Reconstructed Dwelling

(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:
                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 credit 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 and received a tax credit under § 9-109 of this title and is no longer receiving a tax credit under § 9-109 of this title.
    (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 on 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 title 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 may:
        (1)    establish procedures or requirements for the application, review, and approval of tax credits under this section;
        (2)    establish additional eligibility criteria such as age, income level, or assessment value; and
        (3)    notify the Department of any credits that have been granted under this section.
    (f)    The credit under this section may not be claimed for a dwelling for which repair or reconstruction is completed before September 18, 2003.

Structure Maryland Statutes