Section 9-321 - Somerset County [Amendment subject to abrogation]. - Maryland Statutes

§ 9-321. Somerset County [Amendment subject to abrogation].
 

(a)  In general.- The governing body of Somerset County may grant, by law, a property tax credit under this section against county property tax imposed on real property owned by the Crisfield Heritage Foundation, Inc. 

(b)  Property tax credit for assessment increases.-  

(1) In this subsection, "taxable assessment" means the assessment on which the county property tax rate was imposed in the preceding taxable year, adjusted by the phased-in assessment increase resulting from a revaluation under § 8-104(c)(1)(iii) of this article, less the amount of any assessment on which a property tax credit under this subsection is granted. 

(2) The governing body of Somerset County or the governing body of a municipal corporation in Somerset County may grant, by law, a tax credit against the county or municipal corporation property tax imposed on real property: 

(i) that is not eligible for the homestead property tax credit under § 9-105 of this title; and 

(ii) for which the current year's taxable assessment exceeds the prior year's taxable assessment by more than 20%. 

(3) The governing body of Somerset County or the governing body of a municipal corporation in Somerset County may provide, by law, for: 

(i) the amount of the tax credit under this subsection; 

(ii) additional eligibility criteria for the tax credit under this subsection; 

(iii) regulations and procedures for the application and uniform processing of requests for the tax credit; and 

(iv) any other provision necessary to carry out the credit under this subsection. 
 

[1996, ch. 228; 1998, ch. 105; 2000, ch. 117; 2008, ch. 280.]