HOMESTEAD EXEMPTION TIME RUNNING OUT

Homestead Exemption Tax Credit.  There is time to apply, but time is running out.  If you have not reapply or apply you need to do so.  

What is Homestead Exemption?

• Homestead Exemption protects against large assessment increases on principal residences by limiting the increase in taxable assessments each year to a fixed percentage.
• Every county and municipality in Maryland is required to limit taxable assessment increases to 10% or less each year.

Application- Here is the link  http://www.dat.state.md.us/sdatweb/Homestead_application.pdf for the application.  

HOMESTEAD TAX CREDIT ELIGIBILITY APPLICATION

Maryland now requires all homeowners to submit a one-time application to establish eligibility for the Homestead Tax Credit. The Homestead Tax Credit Eligibility Application is needed to insure that homeowners receive the Homestead credit only on their principal residence. To read more about the Homestead Tax Credit program go to  www.dat.state.md.us/sdatweb/homestead.html 

In order to submit a Homestead Tax Credit Eligibility Application through this site you must have been issued from this Department an application containing your Real Property Account Number and an Access Number. You will be required to enter the account and access numbers as part of the submission process. 

Even if you think it you done so, take a few minutes to check.  It could save you in the long run. 

Please let me know if you have any questions and Thank you for reading my blog.