MD SB812

Increases the combined gross income eligibility limit for the homeowners' property tax credit from $60,000 to $100,000

Raises the zero-percent income bracket from the first $8,000 to the first $15,000 of combined income

Reduces the second income bracket rate from 4% to 3% and expands it to cover the next $7,500 of combined income (previously $4,000)

Reduces the third income bracket rate from 6.5% to 6% and expands it to cover the next $7,500 of combined income (previously $4,000)

Raises the threshold for the 9% rate from income over $16,000 to income over $30,000

Takes effect June 1, 2026, applicable to taxable years beginning after June 30, 2026