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:
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http://www.dat.state.md.us/sdatweb/homestead_app.htm% Y$ I- n4 Y, V
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8 G! c2 {& e" HONLY applies to principal residences.+ f4 C |( d- a+ O
, x4 w$ V* {* W+ hMust apply for Tax Credit0 e5 _: F" d, b3 p5 [2 S/ D4 R& S
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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.4 A& L6 z. l, U
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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.7 ]0 _4 o8 m0 X
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New buyer does not see benfits in first year due to value reassessment made upon transfer of the property* U/ S" \1 _; z
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Effectively over time, principal residence owner pays less in property taxes, significant savings# D+ K4 x' T) [" t! ]
$ ^- p4 N4 y# Z- C6 ]5 d4 [ Owner can only receive credit for one property
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