Maryland Homestead Tax Credit - 02/21/08 03:58 PM
The Maryland Homestead Tax Credit is a cap on the amount a property assessment is permitted to increase each year. This credit is available only to owner-occupants (meaning you must live in the residence you are claiming benefit for). The amount of the cap that will apply to a property or homeowner depends on the cap in the county or city where the property is located. In any given year, under a state requirement, there is a 10% cap on property tax assessment increases.
Effective January 1, 2008, homeowners who want to claim benefit must file an application with the State … (1 comments)