The Mayor and the City Council of Baltimore City and the governing body of each county and of each municipal corporation shall grant a property tax credit under this section against the county or municipal corporation property tax imposed on real property if: the homeowner is otherwise eligible for the credit allowed under § 9-105 of this subtitle; the dwelling is: damaged or destroyed due to a natural disaster; and subsequently repaired or reconstructed; the dwelling is revalued after the dwelling is repaired or reconstructed; and as a result of the revaluation, the assessment of the dwelling exceeds the last assessment of the dwelling; and the homeowner claiming the credit had a legal interest in the dwelling at the time the dwelling was damaged or destroyed as described under item (2) of this subsection. The amount of the property tax credit allowed under this section shall equal 100% of the property tax attributable to an increase in the assessment of the dwelling upon revaluation under § 8-104(c)(1)(iii) of this article, including improvements, over the last assessment of the dwelling before the natural disaster, less the amount of any assessment on which a property tax credit under § 9-105 of this subtitle has been authorized. A credit under this section may not be granted for more than 5 years. The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation shall: establish procedures or requirements for the application, review, and approval of tax credits under this section; and notify the Department of any credits that have been granted under this section. The credit under this section may not be claimed for a dwelling for which repair or reconstruction is completed before September 18, 2003.