Maryland HB805 provides a property tax credit for affordable dwellings subject to a mortgage or deed of trust from a nonprofit entity.

Maryland HB805, known as the Building Homes Act, establishes a property tax credit for certain dwellings. This credit applies to properties subject to a mortgage or deed of trust provided by a nonprofit entity and a covenant ensuring affordable pricing. The credit amount is up to the difference between the tax imposed on the full assessed value of the dwelling and the portion of the value the homeowner is responsible for paying on their first mortgage or deed of trust.

Maryland HB805 provides a property tax credit for affordable dwellings subject to a mortgage or deed of trust from a nonprofit entity.

Maryland HB805, known as the Building Homes Act, establishes a property tax credit for certain dwellings. This credit applies to properties subject to a mortgage or deed of trust provided by a nonprofit entity and a covenant ensuring affordable pricing. The credit amount is up to the difference between the tax imposed on the full assessed value of the dwelling and the portion of the value the homeowner is responsible for paying on their first mortgage or deed of trust.