Forgotten Property Tax Credit in Maryland
Maryland homeowners earning less than $60,000.00 annually per household are entitled to apply for what is known as Maryland Homeowner’s Property Tax Credit.
The Maryland Homeowner’s Property Tax Credit allows a property tax cut based on a sliding scale.
This credit is different from the Homestead Tax Credit which you are only required to apply for once. The Homeowner’s Property Tax Credit requires you to apply every year!
Unfortunately, according to the Baltimore Business Journal, only 6% of Baltimore homeowners apply for this property tax credit. As a result, tens of thousands of eligible homeowners leave money on the table by failing to apply for the tax credit.
To correct this problem, the Maryland Consumer Rights Coalition is leading a group of like-minded organization is what is called “Take Credit, Baltimore!” to create awareness of the Maryland Homeowner’s Property Tax Credit.
They have created the site Baltimore Tax Credit as handy eligibility calculator for Baltimore homeowners.
The State provides more information and an application as well. To learn more about your eligibility as well as apply click here: Maryland Homeowner’s Property Tax Credit Application.
Be sure to check out these resources and determine if you are entitled to a break in your property taxes. It could save you hundreds of dollars!