Legislation Details

Reference No. CB-057-2020    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 10/27/2020
Introduced Date 9/29/2020 Public Hearing Date 10/27/2020 @ 10:00 AM
Effective date: 12/18/2020    
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, 2021.
Proposers/Sponsors: County Executive, Todd M. Turner, Jolene Ivey, Rodney C. Streeter, Monique Anderson-Walker, Sydney J. Harrison, Thomas E. Dernoga, Deni L. Taveras, Dannielle M. Glaros
Code sections: 10-241.02 -
Attachments: 1. B2020057, 2. CB-057-2020 AIS, 3. CB-057-2020 Report, 4. CB-057-2020 Transmittal, 5. CB-057-2020 OOL Comment, 6. CB-057-2020 Policy & Fiscal Note
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, 2021.

 

Background

This legislation will establish the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2021, as required by State law. Based on current Consumer Price Index (CPI) trends, the Homestead Property Tax Credit needs to be set at 101% for the taxable year beginning July 1, 2021. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.