HI Everyone,
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: B/ ]& k% C I5 L$ KHave 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.htm1 [# c# j, X" f. o3 U- H
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* l2 G, u2 G3 ~- }! Z& bONLY applies to principal residences.4 Z* H0 _$ ]. `
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Must apply for Tax Credit `* q' Q2 G4 D+ i3 [( H
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Existing homeowners have until Dec 31, 3013 to apply (recent legislation extended the deadline)* w2 P" t% D% W" Y; X {
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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.: W6 H7 C% C6 b: C- V
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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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" R# G) Q- g0 B G/ A: M New buyer does not see benfits in first year due to value reassessment made upon transfer of the property
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, Z' w, N3 f5 s6 R+ d1 f Effectively over time, principal residence owner pays less in property taxes, significant savings4 O) f) R5 V4 `. ?6 u
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Owner can only receive credit for one property
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