Legislation Details

Reference No. CB-058-2021    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/2/2021
Introduced Date 10/5/2021 Public Hearing Date 11/02/2021
Effective date: 1/3/2022    
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, 2022.
Proposers/Sponsors: County Executive, Calvin S. Hawkins, Mel Franklin, Derrick Leon Davis, Sydney J. Harrison, Monique Anderson-Walker, Todd M. Turner, Jolene Ivey
Code sections: 10-241.02 -
Attachments: 1. B2021058, 2. CB-058-2021 AIS, 3. CB-058-2021 Report, 4. CB-058-2021 PAFI, 5. CB-058-2021 Transmittal, 6. CB-058-2021_OOL
Contact: David B. Juppe, 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, 2022.

 

Background

This legislation will establish the homestead property tax credit for the County property tax for the taxable year beginning July 1, 2022, as required by State law. Based on the official Consumer Price Index (CPI) for June 2021, the Homestead Property Tax Credit needs to be set at 105% for the taxable year beginning July 1, 2022. The Homestead Property Tax Credit was created to limit taxable assessment increases on a property owner’s principal residence.