Bill No.
42-16
Conceming: Taxation - Property Tax
Credit - Elderly Individuals and
Veterans
Revised:
3/712016
Draft No. 7
Introduced:
October 18. 2016
Enacted:
March 7. 2017
Executive:
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Effective:
July 1. 2017
Sunset Date:
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_ _ _ _ __
Ch, _ _, Laws of Mont. Co. _ __
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
Lead Sponsor: Council President Floreen
Co-Sponsors: Councilmembers Navarro, Rice, and Katz
AN
ACT to:
(1)
(2)
(3)
create a property
tax
credit for certain elderly individuals and veterans;
provide for the eligibility for the property tax credit; and
generally amend the law relating to property
tax
credits.
By adding
Montgomery County Code
Chapter 52, Taxation
Section 52-110, Property
tax
credit - elderly individuals and veterans
Boldface
Underlining
[Single boldface brackets]
Double undedining
[[Double boldface brackets]]
'It
'It
'It
Heading or defined term.
Added to existing law by original bill.
Deletedfrom existing law by original bill.
Added by amendment.
Deletedfrom existing law or the bill by amendment.
Existing law unaffected by bill.
The County Council for Montgomery County, Maryland approves the following Act:
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BILL
No.
42-16
1
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Sec.
1.
Section
52-110
is added as follows:
52-110.
Property tax credit
=
elderly individuals and veterans.
ill
Definitions.
In this Section, the following words have the meanings
indicated:
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Department
means the Department of Finance.
Director
means the Director of the Department or the Director's
designee.
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Dwelling
has the same meaning as in §9-105 of the Tax-Property Article
of the Maryland Code.
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(Q)
Credit.
As authorized
Qy
§9-257 of the Tax-Property Article of the
Maryland Code, an eligible individual may receive
~
credit against the
County property tax imposed on the dwelling of an eligible individual.
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Eligibility.
An
individual is eligible to receive
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property tax credit if:
ill
(AJ
the individual is at least 65 years old [[and:]];
nW11
all
the individual has lived in the same dwelling for at least
the preceding 40 years; [[orn ang
LCl
the dwelling for which a property tax credit is.sought has a
maximum assessed value of $650,000 at the time the
individual first applied for the
cre~
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(2J
(AJ
the individual is at least 65 years old;
the individual is
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retired member of the United States
armed forces; and
ill.)
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Uill]]
(Q
the dwelling for which
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property tax credit is sought
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has
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maximum assessed value of $500,000
individual first applied for the credit.
at
the time the
@
Amount and duration
Q[
credit.
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Bill No. 42-16
27
ill
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The credit allowed under this Section is 20% of the [[county]]
County property tax imposed on the dwelling.
The credit must be granted each year for
remains eligible for the credit.
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years if the individual
W
Application.
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A property owner must submit an application to the Director on or
before [[the date that the Director sets for]] April 1 before each tax
year that the individual remains eligible for the credit.
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An
application must:
®
{ill
be on the form that the Director requires; and
demonstrate that the taxpayer is e:qtitled to the credit.
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Regulations.
The County Executive may issue regulations under Method
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to administer this tax credit.
Sec. 2. Applicability.
Section 52-110, as added by Section 1 ()fthis Ac:;t, takes
effect on July
1.
2017.
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Sec. 3. Application date.
Notwithstanding Section 52-11O(e), an individual
must submit an application to the Director on or before September
1.
2017 if the
individual seeks to receive the tax credit for F iscal Year 2018.
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Bill
No.
42-16
Date
Approved:
Isiah Leggett, COlUlty Executive
Date
This is a correct copy o/Council action.
Linda M. Lauer, Clerk ofthe Council
Date
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