§ 9-207

# (a)

# (1)

In this section, “dwelling” means:

(i) a newly constructed or substantially rehabilitated single dwelling unit that is unsold or unrented; or

(ii) newly constructed or substantially rehabilitated commercial property that is unsold or unrented.

# (2)

“Dwelling” does not include land.

# (b)

(1) A property tax credit granted under this section applies only to county or municipal corporation property tax.

(2) This section does not apply to Baltimore City.

# (c)

If the owner of a dwelling applies to the county or the municipal corporation where the dwelling is located for a property tax credit under this section, the appropriate governing body may grant, by law, a property tax credit not exceeding 100% of the county or municipal corporation property tax imposed on the dwelling.

# (d)

The appropriate governing body may:

# (1)

determine the amount of the eligibility requirements for this credit; and

# (2)

provide for procedures necessary to apply for a property tax credit under this section.

# (e)

When the owner of a dwelling applies to the appropriate governing body for a property tax credit under this section, the owner shall certify that the dwelling is unsold and unrented.

# (f)

A recipient of a property tax credit under this section shall send immediately on or before the date of occupancy to the appropriate governing body a notice that the dwelling has been sold, rented, or occupied.

# (g)

A property tax credit granted under this section is available:

(1) as long as the dwelling remains unsold or unrented; and

(2) over a continuous period of time not exceeding 1 year.

# (h)

If a recipient of a property tax credit under this section fails to comply with the provisions of this section, the property tax credit under this section is forfeited immediately.

# (i)

This section does not change regular assessment procedures.