EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: Councilmember Stokes
A BILL ENTITLED
AN ORDINANCE concerning
title
Taxes - Homestead Credit Percentage
FOR the purpose of modifying the homestead credit percentage for certain taxable years.
body
BY repealing and reordaining, with amendments
Article 28 - Taxes
Section(s) 10-1
Baltimore City Code
(Edition 2000)
SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That the Laws of Baltimore City read as follows:
Baltimore City Code
Article 28. Taxes
Subtitle 10. Credits
§ 101. Homestead property.
(A) IN GENERAL.
Pursuant to the authorization contained in State TaxProperty Article § 9105, [for the taxable year beginning July 1, 1993,] the homestead credit percentage for the City property tax is [104%] AS PROVIDED IN THIS SECTION.
(B) BASIC RATE.
FOR EACH OF THE TAXABLE YEARS BEGINNING JULY 1, 2011, AND JULY 1, 2012, THE HOMESTEAD CREDIT PERCENTAGE IS 104%.
(C) INCREASED RATE
(1) TAXABLE YEARS BEGINNING JULY 1, 2013, THROUGH JULY 1, 2019
(I) FOR THE TAXABLE YEAR BEGINNING JULY 1, 2013, THE HOMESTEAD CREDIT PERCENTAGE IS 106%.
(II) FOR THE TAXABLE YEAR BEGINNING JULY 1, 2014, THE HOMESTEAD CREDIT PERCENTAGE IS 108%.
(III) FOR EACH OF THE TAXABLE YEARS BEGINNING JULY 1, 2015, THROUGH THE TAXABLE YEAR BEGINNING JULY 1, 2019, THE HOMESTEAD CREDIT PERCENTAGE IS 110%....
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