City of Baltimore - File #: 16-0614

• File #: 16-0614
• Version: 0
• Name: Tax Sales - Interest Rate on Redemptions
• Type: Ordinance
• Status: Enacted
• File created: 1/11/2016
• In control: City Council
• Final action: 6/21/2016
• Enactment #: 16-485
• Title: Tax Sales - Interest Rate on Redemptions FOR the purpose of reducing the interest rate applicable to the redemption of certain residential property from a tax sale.
• Sponsors: City Council President (Administration)
• Indexes: Interest, Redemption Rate, Tax Sales

Date	Ver.	Action By	Action	Result
6/23/2016	0	Mayor	Signed by Mayor
6/13/2016	0	City Council	Approved and Sent to the Mayor
6/6/2016	0	City Council	3rd Reader, for final passage
6/6/2016	0	Taxation, Finance and Economic Development Committee	Recommended Favorably
5/26/2016	0	Taxation, Finance and Economic Development Committee	Recommended Favorably	Pass
5/9/2016	0	Taxation, Finance and Economic Development Committee	Scheduled for a Public Hearing
1/14/2016	0	The City Council	Refer to Dept. of Finance
1/14/2016	0	The City Council	Refer to City Solicitor
1/14/2016	0	The City Council	Refer to Dept. of Housing and Community Development
1/11/2016	0	City Council	Assigned
1/11/2016	0	City Council	Introduced

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:  The Council President

At the request of:  The Administration (Department of Finance)                                                    

                     A BILL ENTITLED

AN ORDINANCE concerning

title

Tax Sales - Interest Rate on Redemptions

FOR the purpose of reducing the interest rate applicable to the redemption of certain residential property from a tax sale.

body

BY repealing and reordaining, with amendments

   Article 28 - Taxes

   Section(s) 8-1

   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 8.  Tax Sales

��81.  Interest rate on redemptions from tax sales.

Pursuant to the authorization contained in State TaxProperty Article � 14820(b)(3), the interest rate applicable to redemptions of property from tax sales in Baltimore City is:

(1)                     12% A YEAR FOR ANY RESIDENTIAL REAL PROPERTY THAT, AS OF JANUARY 1 IMMEDIATELY PRECEDING THE TAX SALE, WAS DESIGNATED BY THE STATE DEPARTMENT OF ASSESSMENTS AND TAXATION AS THE OWNER�S PRINCIPAL RESIDENCE IN ACCORDANCE WITH THE CRITERIA GOVERNING THE STATE HOMESTEAD TAX CREDIT; AND

(2)                     18% a year FOR ALL OTHER PROPERTY.

   SECTION 2.  AND BE IT FURTHER ORDAINED, That the catchlines contained in this Ordinance are not law and may not be considered to have been enacted as a part of this or any prior Ordinance.

   SECTION 3.  AND BE IT FURTHER ORDAINED, That this Ordinance takes effect on the 30th day after the date it is enacted.

dlr15-1071(4)~intro/06Jan16

art28/RedemptionRate/aa:me

dlr15-1071(4)~intro/06Jan16

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