HI Everyone,( L* d' p6 v% C0 ]9 O: O
6 {; \+ U; ?; ZHave you filed this application? Existing home owners have until Dec 31, 2013 to apply. Here is the link:
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http://www.dat.state.md.us/sdatweb/homestead_app.htm# {. A8 t$ M1 w8 |* ]$ ^- Y
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ONLY applies to principal residences.
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3 i. ]# s5 m1 ^" l" x GMust apply for Tax Credit
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% a4 T6 @+ l* t8 x) Y Existing homeowners have until Dec 31, 3013 to apply (recent legislation extended the deadline)
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New Buyers will receive an application from the MD county Tax office once the deed is recorded and the database is updated.
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/ G4 S" G4 A3 {! _0 v, p9 `: _ Phase in any property tax increase over 3 years and limits how much it can go up in each year to 10% of the existing property tax amount.
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7 \! I2 e) T' ]2 ~. O3 S New buyer does not see benfits in first year due to value reassessment made upon transfer of the property; _. g% ?" N( |7 f3 ?
( ~: i- c8 J Y: s Effectively over time, principal residence owner pays less in property taxes, significant savings
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Owner can only receive credit for one property7 c" J' |, l& E2 x
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