Legislative Update: CB-005-2022-Property Tax Credit for Elderly Individuals (PGC Council)

The Prince George's County Council recently presented CB-005-2022-Property Tax Credit for Elderly Individuals. If enacted, this bill would allow Prince Geroge's County residents at least 65 years old to be eligible for a property tax credit. These residents would only be eligible if they have lived in the same dwelling for at least thirty years and their home has a maximum assessed value of $400,000 when the individual first applied for the credit.

The legislation states that the duration and amount of credit allowed is twenty percent of the County's property tax imposed on the home. The credit provided by CB-005-2022 will be granted every year for five years, only if the resident remains eligible. It should be noted that the property tax credit won't be granted to otherwise eligible residents if their property has been awarded a tax credit or exemption under the Tax-Property Article, Annotated Code of Maryland, or the County Code for that tax year.

Should CB-005-2022 become law, the application for the tax credit will be made under oath through an application provided by the Director of the Office of Finance. According to the legislation, the application instruction the residents to give a legal description of the property and such "other information or documentation as the Director may require to determine whether the applicant can qualify for the tax credit."

Every year the County Council will receive a report on the previous fiscal year from the Director of Finance on or before December 31st. The report will include:

• The number of applications received;

• The number of applications denied;

• The number of tax credits approved; and

• The location by Councilmanic district of the number of applications received, denied, and the amount of tax credit approved.

Now that CB-005-2022 has been presented to the Council, it will go to the Committee of the Whole to be debated. Councilmember Thomas E. Dernoga is the primary sponsor of this bill. If there are any concerns or questions about CB-005-2022, don't hesitate to get in touch with his office.