§ 12-114. Charles County rental transfer exemption.
(a) "Rental dwelling" defined.- In this section, "rental dwelling" means residential real property with accommodations for not more than 4 units that is held by the owner primarily for rental, investment, or the generation of income and is located in a targeted area designated by the governing body of Charles County under § 9-310(c) of this article.
(b) Exemption authority.- The governing body of Charles County may grant, by law, an exemption, in whole or in part, from the recordation tax imposed on an instrument of writing that transfers a rental dwelling in Charles County to an individual who will occupy the property as a principal residence.
(c) Requirements for exemption.- To qualify for the exemption authorized under this section, the instrument of writing shall be accompanied by:
(1) a statement under oath signed by the grantor that the property has been held by the grantor as a rental dwelling; and
(2) a statement under oath signed by the grantee that the residence will be occupied by the grantee as the grantee's principal residence.
(d) Amount; duration; implementation.- The governing body of Charles County may provide by law for:
(1) any additional criteria for eligibility, conditions, or restrictions for an exemption provided under this section;
(2) provisions to define, fix, or limit the amount, terms, and scope of an exemption provided under this section; and
(3) any other provision appropriate to implement the exemption.
§ 12-114. Charles County rental transfer exemption.
(a) "Rental dwelling" defined.- In this section, "rental dwelling" means residential real property with accommodations for not more than 4 units that is held by the owner primarily for rental, investment, or the generation of income and is located in a targeted area designated by the governing body of Charles County under § 9-310(c) of this article.
(b) Exemption authority.- The governing body of Charles County may grant, by law, an exemption, in whole or in part, from the recordation tax imposed on an instrument of writing that transfers a rental dwelling in Charles County to an individual who will occupy the property as a principal residence.
(c) Requirements for exemption.- To qualify for the exemption authorized under this section, the instrument of writing shall be accompanied by:
(1) a statement under oath signed by the grantor that the property has been held by the grantor as a rental dwelling; and
(2) a statement under oath signed by the grantee that the residence will be occupied by the grantee as the grantee's principal residence.
(d) Amount; duration; implementation.- The governing body of Charles County may provide by law for:
(1) any additional criteria for eligibility, conditions, or restrictions for an exemption provided under this section;
(2) provisions to define, fix, or limit the amount, terms, and scope of an exemption provided under this section; and
(3) any other provision appropriate to implement the exemption.
§ 12-114. Charles County rental transfer exemption.
(a) "Rental dwelling" defined.- In this section, "rental dwelling" means residential real property with accommodations for not more than 4 units that is held by the owner primarily for rental, investment, or the generation of income and is located in a targeted area designated by the governing body of Charles County under § 9-310(c) of this article.
(b) Exemption authority.- The governing body of Charles County may grant, by law, an exemption, in whole or in part, from the recordation tax imposed on an instrument of writing that transfers a rental dwelling in Charles County to an individual who will occupy the property as a principal residence.
(c) Requirements for exemption.- To qualify for the exemption authorized under this section, the instrument of writing shall be accompanied by:
(1) a statement under oath signed by the grantor that the property has been held by the grantor as a rental dwelling; and
(2) a statement under oath signed by the grantee that the residence will be occupied by the grantee as the grantee's principal residence.
(d) Amount; duration; implementation.- The governing body of Charles County may provide by law for:
(1) any additional criteria for eligibility, conditions, or restrictions for an exemption provided under this section;
(2) provisions to define, fix, or limit the amount, terms, and scope of an exemption provided under this section; and
(3) any other provision appropriate to implement the exemption.
