1. (a) Subject to subsection (b) of this section, the Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may grant a tax credit under this section against the county or municipal corporation property tax imposed on real property if:

   1. (1) the homeowner is otherwise eligible for the credit allowed under § 9-105 of this title;

   2. (2)

      1. (i) the dwelling is:

         1. 1. damaged or destroyed due to a natural disaster; and
         2. 2. subsequently repaired or reconstructed;
      2. (ii) the dwelling is revalued after the dwelling is repaired or reconstructed; and
      3. (iii) as a result of the revaluation, the assessment of the dwelling exceeds the last assessment of the dwelling; and
   3. (3) the homeowner claiming the credit had a legal interest in the dwelling at the time the dwelling was damaged or destroyed as described under item (2) of this subsection.
2. (b) A homeowner may receive a tax credit under this section only if the homeowner qualified and received a tax credit under § 9-109 of this title and is no longer receiving a tax credit under § 9-109 of this title.
3. (c) The amount of the property tax credit allowed under this section shall equal 50% of the property tax attributable to an increase in the assessment of the dwelling on revaluation under § 8-104(c)(1)(iii) of this article, including improvements, over the last assessment of the dwelling before the natural disaster, less the amount of any assessment on which a property tax credit under § 9-105 of this title has been authorized.
4. (d) A credit under this section may not be granted for more than 3 years.

5. (e) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may:

   1. (1) establish procedures or requirements for the application, review, and approval of tax credits under this section;
   2. (2) establish additional eligibility criteria such as age, income level, or assessment value; and
   3. (3) notify the Department of any credits that have been granted under this section.
6. (f) The credit under this section may not be claimed for a dwelling for which repair or reconstruction is completed before September 18, 2003.

Added by Acts 2006, c. 89, § 1, eff. June 1, 2006.