Maryland’s Homeowners’ Property Tax Credit

Maryland Homeowners’ Property Tax Credit Program

The State of Maryland has had a property tax credit program since 1975, designed to help low-income, or fixed-income homeowners afford their home property taxes. When it was first enacted, it was known as the “circuit breaker” plan for elderly homeowners, but is available to all homeowners regardless of age, because credits are based on income. Here is the skinny on Maryland’s Homeowners’ Property Tax Credit Program:

The formula used is based the amount of income and the property tax amount, with a graduated percentage of the amount paid.

There are 4 requirements:

• You must own the home, have a legal interest
• The home must be your principal residence
• Your net worth (minus the property’s value) must be less than $200,000
• Income cannot exceed $60,000

The property tax credit is not automatically applied, you must apply no later than September 1 every year.You can use the back of the tax assessment form you get in the mail, or

Download the 2012 Homeowners Tax Credit Application or Email the Taxcredits Division to request an application.

See details of the Maryland Homeowner’s Property Tax Credit on the Md State website.