Health & Fitness
Homestead Tax Credit for Owner Occupied Properties
Homestead Tax Credit. This is a cap that limits the percentage that your property taxes may increase each year.
HOMESTEAD TAX CREDIT deadline!
Homestead tax credit application due December 31,2012
All homeowners must submit a one-time application to continue their homestead tax credit eligibility. Even homeowners who in the past have received the credit must file the form if they have not already done so.
The homestead tax credit protects homeowners from the impact of real estate market fluctuations in annual property taxes. When home values increase dramatically, the homestead tax credit operates as a cap on the homeowner's property tax bill and allows for the appreciation in value to phase in over time. For complete directions and a link to request the form, visit http://dat.state.md.us/prhomestead.pdf
