Maryland Homestead Property Tax Credit - have you applied?
The State of Maryland offers a Homestead Property Tax Credit for homeowners on their principal residence. This credit caps the annual increase on your county taxable assessment and varies from county to county. You may recieve a copy of the application from the county once your deed has been recorded, so keep an eye out for it. For my previous home purchase, I had to retrieve the application online and submit it myself.
You will automatically be approved upon the submission of your one-time application as long as you have lived there for six months out of the last year, including July 1st of the year the credit is applied. There is no filing fee associated with filing the form. You must submit a new application for each change in your principal residence and the credit is not available to second homes or rental properties.
If you would like more information on the credit, help checking to see if you currently are receiving the credit or assistance with submitting your application, please contact us today.
