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:, ^$ j; B) ^' F: |8 n" b
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http://www.dat.state.md.us/sdatweb/homestead_app.htm/ Y8 k' g4 E' c: q2 A
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: R) v4 X) g& O8 uONLY applies to principal residences.
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& b' {% N" F3 G4 P. a$ bMust apply for Tax Credit
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# t3 S2 e$ l6 M) Y" |' x7 x& ~$ t 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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! ?! n* u# i( J4 z 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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New buyer does not see benfits in first year due to value reassessment made upon transfer of the property# P# u* a2 u5 _' g0 E( b
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Effectively over time, principal residence owner pays less in property taxes, significant savings3 q2 ~* u) f4 F
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Owner can only receive credit for one property
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