Legislation Details

Reference No. CB-043-2019    Draft No.
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/5/2019
Introduced Date 10/8/2019 Public Hearing Date 11/5/2019 @ 1:30 PM
Effective date: 1/3/2020    
Title: AN ACT CONCERNING HOMESTEAD PROPERTY TAX CREDIT for the purpose of establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2020.
Proposers/Sponsors: County Executive, Jolene Ivey, Sydney J. Harrison, Derrick Leon Davis, Monique Anderson-Walker, Todd M. Turner, Rodney C. Streeter, Mel Franklin, Thomas E. Dernoga, Calvin S. Hawkins, Deni L. Taveras
Code sections: 10-241.02 -
Attachments: 1. B2019043, 2. CB-043-2019 AIS, 3. CB-43-2019 Report, 4. CB-043-2019 Transmittal, 5. CB-043-2019 Fiscal Impact, 6. CB-043-2019 OOL Comment
Contact: Latasha Coates, Office of Management and Budget

Title

AN ACT CONCERNING HOMESTEAD PROPERTY TAX CREDIT for the purpose of establishing the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2020.

 

Background

This legislation will establish the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2020, as required by State law.  Based on current Consumer Price Index (CPI) trends, the Homestead Property Tax Credit needs to be set at 102% for the taxable year beginning July 1, 2020.  The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.