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Saturday, August 7, 2010

CONSUMER / TAXPAYER ALERT: MONTGOMERY COUNTY AND THE MARYLAND HOMESTEAD PROPERTY TAX CREDIT

by JC Leahy, MA Accounting

If you own an home in Maryland, you had better check your latest property tax bill.  Two significant tax credits may have been left out this year, leaving you will a unfairly larger property tax bill to pay.

I am talking about the Maryland State Homestead Property Tax Credit and the corresponding county credit.  I live in Montgomery County.  I have lived in the same home since 2004 and have always received both credits every year without a problem.  No annual re-application for these credits has ever been necessary.. All you have to do to qualify for these credits is live in your home.  A couple of years ago, Montgomery County, in its quest for new revenues, decided to take away this credit from homeowners who did not re-apply for it.  A lot of homeowners missed this little detail.  I didn't; I actually re-applied.  Nevertheless, my property tax bill arived this year with those two credits quietly missing.  My daughter and son-in-law, who bought a nearby house several years ago and have been living in it continuously ever since, also are missing the credits this year. 


We're talking significant dollars here, so check your latest  property tax bill.  Check last year's tax bill, too, while you're at it.   If you live in a Maryland county outside Montgomery, this could apply to you, too.  Look at your latest property tax bill and make sure there are lines for the Maryland Homestead Tax Credit and the County Homestead Tax Credit.  Resources below:

CLICK HERE TO VIEW MONTGOMERY COUNTY MARYLAND PROPERTY TAX RECORDS

CLICK HERE TO VIEW PRINCE GEORGE'S COUNTY MARYLAND PROPERTY TAX RECORDS

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