MD SB822

Creates a property tax credit against State, county, and municipal property taxes for nonprimary residences (second homes occupied by the owner for fewer than 6 months annually) that are not held primarily for rental or investment purposes

Credit calculation: when property assessment increases beyond the "nonprimary residence credit percentage" of the prior year's assessment, the credit equals the excess multiplied by the applicable tax rate

State property tax uses a fixed 115% credit percentage; counties and municipalities must set their own percentages between 100% and 115% by March 15 or March 25 respectively each year

Homeowners must apply by May 1 for the following taxable year, must maintain a primary dwelling elsewhere in Maryland, and may only claim the credit on one nonprimary residence

Takes effect June 1, 2025, applicable to taxable years beginning after June 30, 2025