(a) Creation. There is a 50-year deferral of County real property taxes on residential real property for eligible homeowners.
(b) Eligibility. A homeowner is eligible for a payment deferral if the owner or at least one of the owners:
(1) has resided in the dwelling as a principal residence for a period of at least five consecutive years;
(2) meets one of the following three conditions: is at least 62 years of age; has been found permanently and totally disabled and has qualified for benefits under the Social Security Act, the Railroad Retirement Act, any federal act for members of the United States Armed Forces, or any federal retirement system; or has been found permanently and totally disabled by a County Health Officer or the Baltimore City Commissioner of Health; and
(3) meets the income eligibility requirements under subsection (c).
(c) Ceiling on gross income. Homeowners are eligible if their combined gross income, as defined in the Tax-Property Article, § 9-104, of the State Code, does not exceed $55,000 per year.
(d) Amount deferred. The amount of real property eligible for a payment deferral shall be no more than the minimum lot size required by the zoning district in which the property is found, except that the amount of eligible property may not be less than the dwelling and curtilage, as determined by the Supervisor of Assessments for Anne Arundel County. The amount of tax that may be deferred may not exceed the increase in the County property tax from the date the homeowner elects to defer the payment of the tax.
(e) Time for payment and interest rate. The total amount of County property tax deferred shall be due and payable at the end of the 50-year duration of the deferral, when the eligible owner dies, or immediately on transfer of ownership of the property for which the property tax has been deferred. No interest shall accrue on the amount deferred if paid when due. Thereafter, interest and penalties shall accrue on the unpaid balance at the rates described in § 4-1-103.
(f) Notice. Notice regarding tax deferrals under this section shall include notice to any mortgagee or beneficiary under a deed of trust of the deferral and of the amount of tax to be deferred and notice on the annual property tax bill of the cumulative amount of the deferral and all related interest.
(g) When election must be made. The election to defer taxes must be made before June 1 of a taxable year in order to receive deferral of the taxes beginning in the succeeding taxable year.
(h) Taxes not deferred are due and payable. All County real property taxes not deferred are due and payable and subject to the same interest rates as all other County property taxes.
(i) Lien for deferred taxes and interest. A lien shall attach to the property in the amount of all deferred taxes and interest and shall remain attached until the deferred taxes and interest are paid.
(j) Agreement. Tax deferrals for eligible homeowners are authorized by written agreement. The agreement shall reflect the terms and conditions of the deferral, including notice of the lien. The agreement shall be recorded in the land records of Anne Arundel County.
(1985 Code, Art. 6, § 1-107) (Bill No. 77-90; Bill No. 55-09; Bill No. 68-09; Bill No. 48-12; Bill No. 85-15; Bill No. 22-16; Bill No. 69-16)