Title
AN ACT CONCERNING PROPERTY TAX CREDIT FOR ELDERLY INDIVIDUALS for the purpose of establishing a property tax credit for certain elderly individuals.
Background
Pursuant to the Annotated Code of Maryland, Tax-Property Article, Section 9-258, a property tax credit against the County property tax may be imposed on the dwelling of an eligible individual. The proposed legislation establishes a property tax credit for individuals at least 65 years old who have lived in the same dwelling for at least 30 years with a maximum assessed value of $400,000 under certain criteria.