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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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0 S( E9 v: g1 Z/ Nhttp://www.dat.state.md.us/sdatweb/homestead_app.htm' z) v% S/ J* @; }: x
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ONLY applies to principal residences.+ N) v+ g: I6 L7 c6 t1 H
7 U3 K$ c: l, TMust apply for Tax Credit
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# f" G" l+ t. Q/ R8 t/ l/ [ 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.2 l6 T5 J5 T+ h' R+ Z( o _ s; f
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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. M7 k( P8 j9 I9 n1 z1 ?7 i( X+ ~
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New buyer does not see benfits in first year due to value reassessment made upon transfer of the property3 X# P: W/ M* R& i5 ?
1 F F% l3 }" j4 f8 V: r* h& T Effectively over time, principal residence owner pays less in property taxes, significant savings/ b3 W+ [6 y; j/ P9 b
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Owner can only receive credit for one property- y2 j' g+ E4 ~# I2 y2 i( K
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