- A. Pursuant to Tax-Property Article, §9-105, Annotated Code of Maryland, dwellings occupied through membership in a cooperative corporation are eligible for the Homestead Property Tax Credit.
B. The following information shall be provided for the Department to administer the credit:
(1) For a dwelling's initial eligibility for the credit:
- (a) The name of any individuals holding membership in the cooperative corresponding to the dwelling; and
- (b) Documentation under Tax-Property Article, §2-218, Annotated Code of Maryland, verifying that the dwelling is the principal residence of the individuals holding that membership; and
(2) For a dwelling whose occupants change due to a change of membership in the cooperative:
- (a) The name of any individuals acquiring membership in the cooperative corresponding to the dwelling;
- (b) The date the membership was acquired;
- (c) Whether consideration was given for the membership; and
- (d) Documentation under Tax-Property Article, §2-218, Annotated Code of Maryland, verifying that the dwelling is the principal residence of the individuals holding that membership.
C. The information required by §B of this regulation shall be provided:
- (1) To the Department's local assessment offices;
- (2) Under the signed oath of the individuals holding membership in the cooperative corresponding to the dwelling; and
- (3) On a form furnished by the Department.
- D. The information required by §B(2) of this regulation shall be provided within 60 days of the date that a change of membership in the cooperative occurs.
- E. Failure or refusal to provide the information required by §B of this regulation will result in a dwelling being designated as not a principal residence for purposes of the credit.
Authority: Tax-Property Article, §§2-201, 2-202, 2-218, and 9-105, Annotated Code of Maryland
Effective date: November 8, 1993 (20:22 Md. R. 1709)
Regulation .03 adopted effective June 30, 2008 (35:13 Md. R. 1181)