Prince George's County - Supplemental Homeowners' Property Tax Credit - Required PG 412-26

HB 368 requires Prince George's County to provide an additional property tax credit for homeowners, supplementing Maryland's existing state credit. The credit reduces taxes based on income: 0% on the first $8,000, 4% on the next $4,000, 6.5% on the following $4,000, and 9% on income above $16,000. Homeowners must have combined income under $75,000 and net worth under $200,000 to qualify. The State Department of Assessments and Taxation administers the credit, and Prince George's County must reimburse the state for administrative costs. The law takes effect for tax years beginning after June 30, 2026.