Tax Relief Programs for Homeowners

HOMESTEAD TAX CREDIT 

After the first full tax year of ownership, the Homestead Tax Credit limits the annual increase in taxable assessment on owner-occupied residential properties to a fixed percentage. The State taxable assessment increase is limited to 10%. For FY2020, the County taxable assessment increase is limited to 3%. If the assessed value decreases, the Homestead Tax Credit will also decrease. To qualify for this credit, you must submit an application to the State Department of Assessments and Taxation. For more information, please refer to the State’s website at www.dat.maryland.gov and type Homestead Tax Credit in the Search Bar or call 1-866-650-8783.


VETERANS EXEMPTION 

Veterans who have been certified by the U.S. Department of Veterans Affairs as completely and permanently disabled are eligible for a full exemption of real property taxes on a single residential property owned and occupied by the certified veteran (or a surviving spouse). The property owner must submit a one-time application for this exemption to the State for approval. (The owner will be exempt from all taxes but will still owe all fees such as solid waste charges.) For more information, please refer to the State’s website at www.dat. maryland.gov and type Veterans Exemption in the Search Bar.


HOMEOWNERS TAX CREDIT

  A property tax credit is available to all residential homeowners who have a combined household income up to $60,000 and net assets that do not exceed $200,000. Net assets exclude the value of your home(s) and the value of your qualified retirement plan(s). To qualify for this credit, each year you must submit an application to the State Department of Assessments and Taxation by September 1st. For more information, please refer to the State’s website at www.dat.maryland.gov and type Homeowners Tax Credit in the Search Bar or call 1-800-944-7403.