What is the Homestead Tax Credit? The Homestead Credit limits the increase in taxable assessments each year to a fixed percentage. Every county and municipality in Maryland is required to limit taxable assessment increases to 10% or less each year. Application Requirement To prevent improper granting of this credit on rented or multiple properties of a single owner, a law was enacted in 2007 that requires all homeowners to submit a one-time application to establish eligibility for the credit. Why should I want to submit the application? Because of assessment increases and because of the … (0 comments)
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Deadline for Maryland Homeowners - Homestead Tax Credit
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