The Homestead Tax Credit was created to keep property taxes stable as property values increase. In order to retain the credit, homeowners must file a form by the end of today, Dec. 31.
In a recent email to Carroll County residents, Delegate Justin Ready explained that years ago the Homestead Property Tax Credit was established to keep the property tax homeowners pay from skyrocketing as property values increase. The credit is only allowed to be used for primary residences, but it was often applied to all residential property a person owns, such as vacation homes or investment properties, Ready said.
To ensure the tax credit is only applied to a taxpayer's primary residence, the State Department of Assessments and Taxation is requiring homeowners to fill out a form to be eligible to retain the credit. If homeowners fail to fill out this form, they will lose the credit, and property taxes may go up substantially, Ready said.
The deadline to file is today, Dec. 31.
According to Ready, forms were mailed to all homeowners. To file electronically or download an application, visit this website: https://sdathtc.resiusa.org/homestead. If mailing the application, it must be postmarked by Dec. 31.
Homeowners can verify the status of their property by going to the Real Property Search website. Enter the county and the address of the property and at the bottom of the real estate property record, the status is listed.
For more information, visit the Maryland Department of Assessments and Taxation website.