The Baltimore City Council unanimously approved a new property tax credit for low-income seniors Monday.

The credit will be for Baltimore homeowners who are at least 62 years old, have an annual income of less than $40,000, and have owned their homes for at least a decade.

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Despite objections from the city's Department of Finance, which said it would cost up to $4 million annually, Mayor Stephanie Rawlings-Blake said she would sign the bill if the council passed it.

The bill passed on a voice vote with no objections. Councilman Nick J. Mosby was absent.

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