§ 10-20. City Supplement to Homeowners' Tax Credit Program.
(a) Definitions.
(1) In general.
In this section, the following terms have the meanings indicated.
(2) Combined income.
"Combined income" has the meaning stated in State Tax-Property Article § 9-104(a)(3).
(3) Dwelling.
"Dwelling" has the meaning stated in State Tax-Property Article § 9-104(a)(6).
(4) Homeowner.
"Homeowner" has the meaning stated in State Tax-Property Article § 9-104(a)(9).
(5) State Homeowners' Tax Credit Program.
"State Homeowners' Tax Credit Program" means the Homeowners' Property Tax Credit Program established by State Tax-Property Article § 9-104.
(6) Total real property tax.
"Total real property tax" has the meaning stated in State Tax-Property Article § 9-104(a)(13).
(b) Supplement granted.
In accordance with State Tax-Property Article § 9-215, a City supplement to the State Homeowners' Tax Credit Program is granted for eligible dwellings.
(c) Eligibility requirements.
A dwelling is eligible for the City supplemental tax credit if:
(1) the dwelling is eligible for participation in the State Homeowners' Tax Credit Program; and
(2) as of the end of the calendar year immediately preceding the taxable year for which the supplemental credit is sought, the dwelling's homeowner:
(i) is at least 62 years old;
(ii) has resided in the dwelling for at least 10 years; and
(iii) has a combined income of less than $40,000.
(d) Amount of supplemental credit.
The City supplemental tax credit for an eligible dwelling is the total real property tax on the dwelling, less:
(1) the property tax credit granted for the dwelling under State Tax-Property Article § 9-104; and
(2) the aggregate of the following percentages of the homeowner's combined income:
(i) 0% of the 1st $12,000 of combined income;
(ii) 3% of the next $4,000 of combined income;
(iii) 7% of the next $4,000 of combined income; and
(iv) 9% of combined income over $20,000.