Many homeowners have long received the state’s Homestead Tax Credit, which limits annual property tax increases to four percent. (Other subdivisions have different caps, up to 10 percent.)
Now, for the first and only time, homeowners must apply for this credit. The deadline for the application is Dec. 31, 2012. Use it or lose it for 2013!
To receive the Homestead Tax Credit application, email credit.state.md.us, or call 1-866-650-8783. In Baltimore, call 410-767-2165. Applications will be sent by mail.
Once received, please return applications immediately. Mailed applications must be postmarked by or before New Year’s Eve.
According to Councilwoman Mary Pat Clarke, the average homeowner can save approximately $1,000 per year in property taxes by claiming the Homestead Tax Credit.