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County Tax Assessment Begins This Thursday

Property tax

Property tax

The Prince George’s County Office of Finance will begin to release the FY 2014 Tax Assessments beginning on Thursday, August 1, 2013. Below is some important information that you may be interested in:

Property Assessments:
The State Department of Assessments and Taxation determines the assessed value of all real property in the State of Maryland. When the value goes up, the increase spreads equally over a three-year period. When the value goes down, it stays at the reduced amount for a three-year period. The changes takes affect on July 1st of the following year. The assessed value is printed on the top right section of the tax bill. Detailed information on the assessment process is available online at www.dat.state.md.us/sdatweb/hog.html/

Municipal Tax Rate Differential
Prince George’s County levies a separate tax rate, referred to as the “municipal tax rate differential”, that applies to property located within a particular incorporated Municipality. This differential reduces the County’s property tax revenues to recognize governmental services and programs that municipal governments perform instead of the similar County services to the extent that such services are funded through property tax revenues. In FY 2014, County real property tax revenue is reduced by $8.3 million for the municipal tax differential program.

Tax Rates
The Treasury Division of the office of Finance is the Tax Collector for several governmental taxing authorities that include Prince George’s County, State of Maryland, Incorporated Municipalities, Maryland-National Capitol Park and Planning Commission)M-NCPC) and the Washington Sanitary Transit Commission(WSSC). These taxes are used to support a variety of services such as education, public safety, library system, recreational and planning functions, storm drain maintenance, and public transportation. The taxes you pay are determined by multiplying the assessed value by the applicable tax rate and dividing by 100.00.

County Tax Rate
$0.9600 per $100 Assessed Value
State Tax Rate
$0.1120 per $100 Assessed Value
M-NCPPC
$0.2790 per $100 Assessed Value
Stormwater/Flood Control Tax Rate

$0.0540 per $100 Assessed Value
WSTC Tax Rate
$0.0260 per $100 Assessed Value

Other Charges

You may be subject to additional charges on your tax bill such as the State Restoration Charge if you utilize a private spectic system, a State-mandated Clean Water Act fee, a Solid Waste charge for trash and recycling services or a Front Foot Benefit charge if your property is connected to water and/or sewer lines.

TAX RELIEF INFORMATION FOR HOMEOWNERS

Please check www.princegeorgescountymd.gov for more information on the various tax relief programs that the county offers.

HOMESTEAD TAX CREDIT
After the full tax year of ownership, the Homestead Tax Credit limits the annual increase in taxable assessment on owner-occupied residential properties to a fixed percentage. The State taxable assessment increase is limited to 10%. For FY 2014, the County taxable assessment increase is limited to 2%. If the assessed value decreases, the Homestead Tax Credit will also decrease. To qualify for this credit, you must submit an application to the State Department of Assessments and Taxation. Please call 1-866-650-8783 for assistance.

HOMEOWNERS TAX CREDIT
A property tax credit is available to all residential homeowners who have a combined household income under $60,000.00 and net assess that do not exceed $200,000.00. Net assets to include the value of your home(s) and the value of your qualified retirement plan(s). To qualify for this credit, you must submit an application to the State Department of Assessments and Taxation by Tuesday, September 3, 2013. For more information, please refer to: www.dat.state.md.us/sdatweb/htc.html or call 1-800-944-7403.

VETERANS EXEMPTION
Veterans who have been certified by the U.S. Department of Veteran Affairs as completely and permanently disabled are eligible for a full exemption of real property taxes on a single residential property owned and occupied by the certified veteran(or a surviving spouse). The property owner must submit a one-time application for this exemption to the State for approval. (The owner will be exempt from all taxes but will still owe all fee such as solid waste charges. For more information please refer to: www.dat.state.md.us/sdatweb/veteran.pdf.

COUNTY AND STATE CONTACT INFORMATION
County Treasury Division 301-952-6030
State Assessment Office 301-952-2500
Bay Restoration Charge-State Inquiry 1-800-633-6101
Homeowner Tax Credit 1-800-944-7403
Homestead Tax Credit 1-866-650-8783
Park and Planning Tax 301-952-3560
WSSC Front Foot Benefit Charge 301-206-8032
Stormwater/Flood Control Charge 301-883-5832
Solid Waste Service Charge-Residential 301-952-7600
Clean water Act Fee 301-883-5833

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