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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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7 y$ x" {* ]' c( F: phttp://www.dat.state.md.us/sdatweb/homestead_app.htm
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! g8 }& W3 c2 g0 iONLY applies to principal residences.
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Must apply for Tax Credit; }. v- p3 b8 k& R u/ b
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Existing homeowners have until Dec 31, 3013 to apply (recent legislation extended the deadline); g6 P6 f; e2 t- [( J
4 e% d6 P" J+ W) V& s0 G- f 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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' E3 E. Y6 L% N; z) q) m 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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New buyer does not see benfits in first year due to value reassessment made upon transfer of the property
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Effectively over time, principal residence owner pays less in property taxes, significant savings7 R6 w; O$ _+ P* u# H
, ?) G+ C2 w7 C+ S1 M Owner can only receive credit for one property
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