Homestead Tax Credit Application Deadline December 31, 2012
Homeowners must apply for property tax credit or lose it!
Tens of thousands of Maryland Homeowners who haven't already applied for the Homestead Property Tax Credit have until the end of the year to do so or lose the ofen valuable break. Te deadine was set so long ago - 2007 - that some residents might not remember if they applied.
The owners of 807,000 homes in the state of Maryland are getting a break on their property taxes thanks to the homestead credit, which acts as a limit on annual increases. About 150,000 owners haven't sent in their applications, according to the assessments agency.
The statewide homestead program is ony for primary residences. It keeps the amount of assessed value a homeowner is taxed on from increasing more than 10 percent a year, with even lower caps in most jurisdictions. The limit is 4 percent a year in Baltimore and Baltimore County.
The bread can add up, just in Baltimore, thousands of homeowners got at least half their property taxes forgiven by the homestead credit this tax year.
For more information visit the Homestead Tax Credit Website: http://www.dat.state.md.us/sdatweb/homestead_app.htm
Homeowners are reminded that they only have until December 31, 2012 to submit a Homestead Application to continue being eligible for this credit. You can find out if you have already filed an application by looking up your property on the Departments Real Property database http://sdatcert3.resiusa.org/rp_rewrite/
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