Heads up......If you are a homeowner in Maryland you need to take notice and understand that you are now being required to submit an application to receive the state Homestead Property Tax Credit (capping at 10%). This is a credit on your property tax credit bill.
On Jan. 30th at 1 pm in Annapolis, SB 239 (sponsored by many Democrats and Republican senators including our own Senator EJ Pipken) will be heard to repeal the requirement (to file an application to the State Department of Assessments and Taxation to qualify) and take the burden off of the homeowners.
If you are like me, one may wonder why was the process changed? When I inquired, the reason I was given was that there have been many property owners who were not eligible to receive the credit. Here's a look at the new application, and I can assume how cumbersome this will be for homeowners or if you forget to file or become confused by the new requirement, or try to file electronically and can't find your access number and simply do not file for fear of being in violation.
In 2007, the Maryland General Assembly enacted legislation that required homeowners to fill out a one-time application for the Homestead Credit. The legislation takes effect with the 2008 assessments. If the property is designated as you principal residence, an application was included with your tax assessment notice. Even homeowners who have previously received the credit must fill out the application or apply online. This form is due by April 1. For more information call 410-767-2165.
Please attend the hearing on 1/30/08. Here is the address below that you can submit your support of the bill.
The Honorable Ulysses Currie, Chair
Senate Budget and Taxation Committee
3 West Miller Senate Office Building
Annapolis, MD 21401
Camille - Nice piece of information to provide for your market. Find it very responsible. Also want to thank you for taking your time to comment on our odds of selling a house piece we did a few days ago. Was most kind and appreciated.
cheers