Bill > HB368

This bill requires Prince George's County to provide an additional property tax credit to homeowners, supplementing the existing State Homeowners' Property Tax Credit Program. This new credit is calculated based on a homeowner's "combined income" (total income from all sources) and their "total real property tax" (property tax rates applied to the dwelling's value, capped at $300,000 or the assessed value minus any existing credits). The credit amount is determined by subtracting a percentage of the homeowner's combined income from their total real property tax, with specific income brackets and corresponding percentages outlined in the bill. Eligibility for this supplemental credit is limited to homeowners whose combined net worth does not exceed $200,000 and whose combined gross income is not more than $75,000 in the preceding calendar year. The State Department of Assessments and Taxation will handle the administrative tasks related to this credit, and Prince George's County will be responsible for reimbursing the Department for these administrative costs. This provision will apply to all taxable years beginning after June 30, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0368?ys=2026RS