Maryland Provides Certain Affordable Dwelling Property Tax Credit

The Maryland Governor signed a law that includes: 1) authorizing the Mayor and City Council of Baltimore City, and county or municipal governments, to grant a property tax credit for a dwelling if the dwelling is subject to a mortgage or deed of trust provided by a nonprofit entity and a certain covenant or agreement that ensures affordable pricing of the dwelling; and 2) providing that the credit amount can be up to the difference between the tax imposed on the full assessed value of the dwelling and the portion of the value of the dwelling that the homeowner is ...