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Homestead Property Tax Credit Filing Deadline Today
If you own a home in Maryland, don't forget to complete this application to keep your property tax credit.
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 …
JoeEldersburg
6:57 pm on Monday, December 31, 2012
Probably because the Homestead Tax Credit has been around for years...most people likely filed this sometime between 2007 and 2010 and truly this is likely a non-event, anyway since the last reassessment lowered almost everyone's values in accordance with the downturn. It was much more of an issue when values were going up faster than the assessments could keep pace. Hardly the case now. more ›