HI Everyone,
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Have 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
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% X: b2 u9 v9 k$ g. \2 bONLY applies to principal residences.
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Must apply for Tax Credit
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7 r2 f: I' ]6 M0 p: `( f) C 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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% t& ~- q5 M8 Y8 W* b. G/ m' f 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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9 p& p8 i3 C; U9 W. a7 S/ w New buyer does not see benfits in first year due to value reassessment made upon transfer of the property
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Effectively over time, principal residence owner pays less in property taxes, significant savings
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% ^- z& f n8 {0 b }( Q+ x Owner can only receive credit for one property$ b+ p5 E" a7 }% }1 ?. p
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