Monday, December 17, 2012

Maryland homeowners: Make sure you've applied for the homestead tax credit

I posted this in November but am re-posting in case anyone missed it ...

My neighbor works for a firm that does title work and she just gave me a heads up that many Marylanders -- including many in Rodgers Forge -- have not applied for the Homestead Tax Credit. This is a credit that used to be given automatically but a 2007 law changed the process and now you must apply for it and if you don't, you could lose a lot of money. The credit limits the amount by which taxes on your assessment can rise. (Once you've applied you don't have to do so again.)

The deadline to apply is December 31, 2012.

Here's some info from the state Department of Assessments and Taxation:

What is the law that requires homeowners to apply for the Homestead Tax Credit?  
Legislation enacted by the 2007 session of the General Assembly requires homeowners to submit a one-time application in order to continue their eligibility for the homestead tax credit.  The homestead credit limits the amount of assessment increase on which a homeowner will pay property taxes in that tax year on the one property actually used as the owner’s principal residence.

Why should I want to submit the application?
Because of assessment increases and because of the low assessment caps adopted by the county governments, many homeowners in the State have been receiving substantial homestead credits each year on their property tax bills.

How do I file the Homestead Eligibility Application?
a.  File electronically: Request an application from the Department by sending an email to Hcredit@dat.state.md.us
The application mailed out to you will contain an Access Number so you may file electronically on our site at https://sdathtc.resiusa.org/homestead

b.   Mail the application: You may mail in the completed paper application the Department sends you. You may also print and mail the completed PDF copy of the application available on our web site.  Applications must be postmarked by December 31, 2012.

You can find out if you have already filed an application by looking up your property in the Real Property database.

If you have filed for the credit, you'll see this type of info at the very bottom of the screen:
If you haven't, you'll see this:
Find more info about the tax credit here:
http://www.dat.state.md.us/sdatweb/homestead.html

You might want to pass this along to friends/neighbors who might not be aware of the credit. My neighbor let several people on our block know that they had not applied for the credit and they were very appreciative.


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