Passed BothConf. Cmte
- Homestead Property Tax Credit - Calculation of Credit for Dwelling Purchased by First-Time Homebuyer
- Sponsored by
- Delegate Long
- In the House - Hearing 2/06 at 1:00 p.m.
- Fiscal and Policy Note
Authorizing certain local governments to allow, by law, a first-time homebuyer in the State to calculate the homestead property tax credit for property that includes a newly purchased dwelling using a certain method; requiring that the credit for a newly purchased dwelling be calculated in a certain manner; providing that a certain homeowner may receive the larger of the homestead property tax credit amounts as calculated using certain methods; and applying the Act to taxable years beginning after June 30, 2020.
Bill File Type: Regular
Effective Date(s): June 1, 2020
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Last Updated: 9/22/2020 1:49 PM