New legislation, CB-029-2022, becomes effective July 1, 2023. This new tax credit has four specifications, all of which must be met to qualify for the tax credit:
- Be 65 or over
- Own and reside in the property for which you seek a tax credit, for a minimum of the previous 10 years
- The home’s assessed value does not exceed $500,00 at the time of application
- The application must be made by October 1 of the fiscal year the credit is sought
For example, if you apply for the credit for 2023, you MUST make your application by October 1, 2023. Applications will be available in Spring 2023.
To check your assessed value, visit: SDAT: Real Property Data Search< (maryland.gov)
If you have difficulty accessing your information, use a different browser, Firefox, Chrome or Explorer.
[Source: CM Dernoga’s office]