HI Everyone,
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5 Q# M: I: Z) B3 o1 r" H RHave 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.% ]$ [! b( `5 g9 W6 F
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Must apply for Tax Credit
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8 X9 w# c4 C- w9 z* o/ Z Existing homeowners have until Dec 31, 3013 to apply (recent legislation extended the deadline)
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$ y0 a) `6 z" [3 }3 R0 W 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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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.% c& S4 |& n8 N6 ?6 r
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New buyer does not see benfits in first year due to value reassessment made upon transfer of the property# p* J8 b( [- ]3 H$ R0 P& U
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Effectively over time, principal residence owner pays less in property taxes, significant savings* s+ O; \( |9 ]
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Owner can only receive credit for one property& y ~. x# s/ [: k
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