December 31, 2012 is the deadline for filing an application for the Maryland Homestead Tax Credit.
Legislation adopted five years ago requires all homeowners to submit a one-time application to continue their homestead tax credit eligibility. Even homeowners who in the past have received the credit must file the form if they have not already done so.
The credit may not be claimed for vacation homes or rental properties, and the application process is designed to ensure that taxpayers receive only one homestead tax credit.
The homestead tax credit protects homeowners from the impact of real estate market fluctuations in annual property taxes. When home values increase dramatically, the homestead tax credit operates as a cap on the homeowner’s property tax bill and allows for the appreciation in value to phase in over time.
Homeowners should have received two earlier notifications of the requirement to file a homestead tax credit application. Many have already completed the form either in writing or electronically. Your clients can access the Maryland Department of Assessments and Taxation website to find out if the application was previously submitted. Go to www.dat.state.md.us
and click on “Real Property Data Search.” Select the County where the property is located and enter the street address. A page will appear and display information on the property. At the bottom of that page, the homeowner can see if the homestead application was previously submitted.
If the application was not submitted, a form can be requested by sending an email to email@example.com. The email should request a homestead tax credit application form, along with the address for the property and the County where the property is located. An application can also be requested by calling toll free 1-866-650-8783.
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