(A) Definitions. Except as otherwise expressly stated within this section, all eligibility requirements, statutory definitions, amounts, calculations, restrictions and procedures that apply to the homeowners’ property tax credit granted under Md. Code, Tax-Property Article, § 9-104, also apply to this local supplement to the homeowners’ property tax credit.
ASSETS. Include real property; cash; savings accounts; stocks; bonds; and any other investments. ASSETS do not include the dwelling for which a property tax credit is sought under this section; the cash value of the life insurance policies on the life of the homeowner; tangible personal property; or the cash value of any qualified retirement savings plan or individual retirement accounts.
TOTAL REAL PROPERTY TAX. The product of the sum of all property tax rates on real property including special taxing districts, but not including state and municipal district rates, for the taxable year on a dwelling, multiplied by the lesser of the assessed value of the dwelling as determined by SDAT or $300,000, and then reduced by any property tax credit granted under the Md. Code, Tax-Property Article, § 9-105.
(2004 Code, § 209-33)
(B) Eligibility and amount of credit.
(1) A property tax credit granted under this section may only be granted to a homeowner who is age 65 or older.
(2) A property tax credit granted under this section may not be granted to a homeowner whose combined net worth exceeds $500,000 as of December 31 of the calendar year that precedes the year in which the homeowner applied for the property tax credit or whose combined income exceeds $50,000 in that same calendar year.
(3) For purposes of this local supplement to the homeowners’ property tax credit, the limitation on the assessed value of a dwelling taken into account in determining total real property tax shall be the lesser of the assessed value as determined by SDAT or $300,000.
(4) The county supplemental property tax credit is the total real property tax on a dwelling, less:
(a) The percentage of the combined income of the homeowner calculated under Md. Code, Tax-Property Article, § 9-104; and
(b) The state property tax credit granted under Md. Code, Tax-Property Article, § 9-104.
(2004 Code, § 209-34)
(C) Administration. This section shall be administered by the Department of the Comptroller, or the successor agency, and the SDAT as provided for in Md. Code, Tax-Property Article, §§ 9-104, 9-215, and 9-308(c). Further, the Department of the Comptroller, or the successor agency, is hereby authorized to promulgate any necessary rules and regulations that may be required to administer this tax credit.
(2004 Code, § 209-35)
(D) Applications.
(1) Requirements. All applications for the tax credit administered under this section shall be submitted in a form approved by the Department of the Comptroller, or the successor agency, and signed by the homeowner under oath and under penalty of perjury.
(2) Enforcement.
(a) A person who knowingly submits a false or fraudulent application, or withholds information, to obtain a tax credit under this section must repay the county for all amounts credited and all accrued interest and penalties that would apply to those amounts as overdue taxes and, in addition, is subject to all fines and other penalties as may be provided by law.
(b) The county may enforce this section by appropriate legal action.
(c) A person who violates this section is liable for all court costs and expenses of the county in any civil action brought by the county against the violator.
(2004 Code, § 209-36) (Ord. 06-02, passed 4-11-2006) Penalty, see § 33.99