Like What You're Reading? Submit your email to be notified of new articles! Really Simple Syndication

Homes For Sale

Real Estate Info

Maryland Real Estate Tax Change Affects YOU

Tax Credit
The real estate tax on your Crofton home will go up significantly, if you don’t make a one-time application for the Homestead Tax Credit when you receive your next tax assessment.

In response to many questions about the Homestead Tax Exemption, let me quote the Maryland State Department of Assessments and Taxation on this matter:  

“Effective October 1, 2007, a new law enacted by the 2007 session of the Maryland General Assembly requires all homeowners to make a one-time application in order to be eligible to receive or continue receiving the Homestead Tax Credit. The Homestead Tax Credit law limits each year the amount of assessment increase on which an eligible resident homeowner actually pays County, Municipal and State property taxes. The application is required to insure that all property owners receive the credit on the one property used as their principal residence and not on properties used for other purposes, such as a rental or vacation home. 

In order to submit a Homestead Tax Credit Eligibility Application through this website you must have been issued, from the Maryland State Department of Assessments and Taxation, an application form 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. 

If you have not received an application, click here to access a PDF version of the form which can be completed and mailed to the Department of Assessments and Taxation, Homestead Tax Credit Division, 301 W Preston St. 8th Floor, Baltimore, MD 21201.”

I will resist the temptation to anticipate and answer your questions, and instead refer you to Commonly Asked Questions On the Homestead Tax Credit Application.

WHAT IS THE HOMESTEAD TAX EXEMPTION?  Read Homestead Tax Credit is No Longer Automatic.

 

Mortgage Interest Rates – Today, Last Week, and Last Month

_________________Copyscape_________________

Copyright © 2007 Focus On Crofton     Agent Login    IDX Login     Design by Real Estate Tomato     Powered by Tomato Blogs

Margaret Woda on Zillow
My Davidsonville Real Estate Listings