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04/20/23 1
Homeowners’ Tax CreditHomeowners’ Tax CreditThe State Department
of Assessments
&Taxation
Helping Marylanders remain in their homes for 37
years.
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2
Once upon a time a couple purchased their dream
house.
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3
It wasn’t big. It wasn’t fancy. But it was what they needed at a price they could afford.
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4
Other people noticed that it seemed to be a nice area to live.
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5
And they began to build their homes there. They built bigger and more expensive homes.
Homes that the couple could not afford.
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6
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7
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8
The Property Tax Bill that was $400 when they purchased the home was now $2000.
County Tax Bill
County Taxes
$ 1630
State Taxes
250
Special Area Taxes
220
Total Taxes
$ 2000
FOR
SALE
WHAT COULD THEY DO?
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9
Someone told him to apply for the
Homeowners’ Tax CreditProgram
What is the Homeowners' Property Tax Credit Program?
The State of Maryland has developed a program which allows credits against the homeowner's property tax bill if the property taxes exceed a fixed percentage of the person's gross income. In other words, it sets a limit on the amount of property taxes any homeowner must pay based upon his or her income.
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10
County Tax Bill
County Taxes
$ 1630
State Taxes
250
Special Area Taxes
220
Total Taxes
$ 2000
Less Homeowners’ Tax Credit 700
Taxes Due
$ 1300
They applied for the Homeowners’ Tax Credit and were eligible to receive a credit on the bill.
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11
Homeowners’ Tax CreditHomeowners’ Tax CreditThe State Department
of Assessments
&Taxation
Helping Marylanders remain in their homes
for 37 years.
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04/20/23 12
RENTERS’ TAX CREDITS
Have you heard that Renters’ indirectly pay
property taxes?
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How is that
possible , we don’t
own a house?
how
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Well, when your landlord determines
how much he will charge for rent he takes into
consideration the amount of property
taxes that he has to pay for the dwelling.
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So, you see renters do
indirectly pay property taxes.
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04/20/23 16
How do I determine if I may be
eligible?
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You should look at the charts on the application to see if you fall under one of the categories. If so, you are encouraged to apply.
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Were you over 60 years old last year?
May be eligible and
encouraged to apply
Did you receive Federal or State housing subsidy?
Were you permanently and totally disabled?
Was your income under the poverty level?
Were you the surviving spouse of a person who would have been over 60 or was permanently and totally disabled?
NOT ELIGIBLE
Did you have a dependent child under 18 in your home last year?
NO
NO
NONO
NO
NOYES
YES
YES
YES
YES
YES
CHART 3
Be certain to consult Charts 1 and 2 for eligibility requirements