Applicable to tax years beginning after June 30, 2017, a Maryland county or municipal property tax credit is available against the tax imposed on a dwelling located in a revitalization district that has been substantially improved and reassessed at a higher value. The amount of the credit in the first year is equal to 100% of the tax imposed on the increased value since the last reassessment and attributable to the improvements, and decreases 20% in subsequent years until the credit is at zero in the sixth year. If ownership of the dwelling is transferred, the new owner is eligible for the balance of the remaining credit.
H.B. 1323, Laws 2017, effective as noted above