Section 9-109 - Repaired or reconstructed dwelling. - Maryland Statutes

§ 9-109. Repaired or reconstructed dwelling.
 

(a)  In general.- The Mayor and the City Council of Baltimore City and the governing body of each county and of each municipal corporation shall grant a property 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 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)  Amount of tax credit.- The amount of the property tax credit allowed under this section shall equal 100% of the property tax attributable to an increase in the assessment of the dwelling upon 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 subtitle has been authorized. 

(c)  Time period.- A credit under this section may not be granted for more than 5 years. 

(d)  Procedures or requirements.- The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation shall: 

(1) establish procedures or requirements for the application, review, and approval of tax credits under this section; and 

(2) notify the Department of any credits that have been granted under this section. 

(e)  Exceptions.- The credit under this section may not be claimed for a dwelling for which repair or reconstruction is completed before September 18, 2003. 
 

[2005, chs. 536, 616; 2006, ch. 89.]