The Maryland Homestead Tax Credit is available to homeowners in the state of Maryland, and it can save you money by offsetting some of the costs of property taxes.
In order to help Maryland homeowners manage large assessment increases on their principle residence, the state has established the Maryland Homestead Tax Credit. This credit limits the increase in taxable assessments to 10% or less each year and applies to every county and municipality.
The Homestead Credit is only available to homeowners with a principle residence in Maryland. Meaning, the owner must have lived in the property for at least six months of the year, and you must have owned the property for one year before applying. The tax credit will be granted if all of the conditions are met during the previous tax year.
There are currently two ways to apply for the Homestead Credit. At the settlement of your home purchase, you should have been presented with the paper application, which can be completed and mailed to the Maryland State Department of Assessments & Taxation.
The second option is to complete the application online. This certainly seems like the easier route to go, but there is one extra step that could change your mind.
Learn more: https://dat.maryland.gov/realproperty...
Apply: https://sdathtc.dat.maryland.gov/
For additional questions about the Homestead Tax Credit, you may call 4107672165 or email [email protected].
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