State Department of Assessments & Taxation v. Belcher

COLE, Judge.

The sole issue to be decided in this case is whether, a taxpayer, whose net income resulted from his management of his stock portfolio, is entitled to a homeowner’s property tax credit pursuant to the Maryland “circuit breaker” law.

The legislative enactment involved is Maryland Code (1957, 1980 Repl. Vol.) Article 81, Section 12F-1.1 This *113section of the Code, also known as the “circuit breaker” law, is a legislative device for granting property tax relief to low-income taxpayers. The term “circuit breaker” is used to characterize the law which is intended to protect the taxpayer’s…