Maryland HB652 provides a homestead property tax credit for first-time homebuyers.
Maryland HB652 amends the state's tax laws to provide a homestead property tax credit for first-time homebuyers. This credit applies to the first taxable year in which the first-time homebuyer has a legal interest in the dwelling. The credit is granted by the State, county, and municipal corporation against the property tax imposed on the real property. The bill defines "first-time homebuyer" as an individual who is a resident of the state and has not had a legal interest in any dwelling in any state.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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