HI Everyone,0 G4 N' T6 @+ X9 E% s
% Z) y) Y2 D( @: t, f: B( BHave 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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ONLY applies to principal residences. M/ S* B N3 Z/ ~( g( ^
( P, r! x' y$ E3 W. |& [* |1 fMust apply for Tax Credit3 q& f2 I( V. ~% {
+ b# L2 ^' ^! w Existing homeowners have until Dec 31, 3013 to apply (recent legislation extended the deadline)' A* I2 A( v' L+ O. t
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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.( G* k B5 H. h$ ^
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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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w8 q" Z7 p' b0 k: W/ @& u9 w+ ~ New buyer does not see benfits in first year due to value reassessment made upon transfer of the property- S- |7 s$ l0 j+ z- \- g
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Effectively over time, principal residence owner pays less in property taxes, significant savings
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Owner can only receive credit for one property9 [- `; c$ a. z
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