[Adopted 6-13-2006 by Ord. No. 25-06]
In this article, the following words have the meanings as indicated.
Has the meaning stated in § 9-104(a) of the Tax-Property
Article of the Annotated Code of Maryland.
Has the meaning stated in § 9-104(a) of the Tax-Property
Article of the Annotated Code of Maryland.
Has the meaning stated in § 9-104(a) of the Tax-Property
Article of the Annotated Code of Maryland.
The program established under § 9-104 of the Tax-Property
Article of the Annotated Code of Maryland.
Has the meaning stated in § 9-104(a) of the Tax-Property
Article of the Annotated Code of Maryland.
The difference between the amount of the property tax credit as calculated under § 9-104(g) of the Tax-Property Article of the Annotated Code of Maryland and the amount of the property tax credit as calculated under § 136-36 of this article.
The amount of tax determined by multiplying the sum of all
County tax rates by the assessed value of a dwelling. Total real property
tax does not include state taxes, municipal taxes, special tax assessments,
road tax assessments, fees and other special assessments.
A.
In accordance with §§ 9-104 and 9-215 of the Tax-Property
Article of the Annotated Code of Maryland, there is a local supplement
to the Homeowners' Property Tax Credit Program for dwellings in Calvert
County.
B.
A homeowner or home purchaser who meets the requirements of the Homeowners
Tax Credit Program, as set forth in § 9-215 of the Tax-Property
Article of the Annotated Code of Maryland, as amended from time to
time, shall be eligible for a County supplement to the credit under
the terms of this article.
C.
The Homeowners' Property Tax Credit shall be granted against the
property tax imposed on the real property of the dwelling if the homeowner
or home purchaser qualifies for the Homeowners' Tax Credit Program,
as set forth in § 9-215 of the Tax-Property Article of the
Annotated Code of Maryland and has a combined income of $50,000 or
less.
A.
If the assessed value of the dwelling is $400,000 or less, the amount of the credit is total real property tax, less the amount shown in Subsection C of this section.
B.
If the assessed valued of the dwelling is more than $400,000, the amount of the credit is total property tax on $400,000, less the amount shown in Subsection C of this section.
C.
The amount of the Homeowners' Property Tax Credit shall be reduced
in accordance with the homeowner's or home purchaser's combined income.
The reductions in the amount of the credit based on combined income
are as follows:
|
Combined income
|
Amount of Reduction in Credit
| |
|---|---|---|
|
$0 to $5,000
|
$0
| |
|
$5,001 to $10,000
|
1% of amount over 5,000
| |
|
$10,001 to $15,000
|
$50 plus 2% of amount over 10,000
| |
|
$15,001 to $20,000
|
$150 plus 3% of amount over 15,000
| |
|
$20,001 to $25,000
|
$300 plus 4% of amount over 20,000
| |
|
$25,001 to $30,000
|
$500 plus 5% of amount over 25,000
| |
|
$30,001 to $35,000
|
$750 plus 6% of amount over 30,000
| |
|
$35,001 to $40,000
|
$1,050 plus 7% of amount over 35,000
| |
|
$40,001 to $45,000
|
$1,400 plus 8% of amount over 40,000
| |
|
$45,001 to $50,000
|
$1,800 plus 9% of amount over 45,000 up to $50,000
|
D.
The property tax credit under this section shall be proportionately
reduced for a homeowner who is not required to pay the tax for the
full tax year.
This article shall take affect July 1, 2006, and apply to real
property tax bills for the tax year beginning July 1, 2006, and thereafter.
