Are you about to lose your Maryland Homestead Property Tax Credit?

The SALT Shaker

The Maryland Homestead Property Tax Credit (HTC) limits the increase in the taxable assessment for principal residences. Previously the HTC was automatic however, the state is now requiring homeowners to complete an application to continue the credit.  The state found that homeowners were claiming multiple principal residences, which is not allowed. During the last four years the Maryland Department of Assessments and Taxation has required homeowners to reapply for the credit. If homeowners do not reapply before 12/31/2012, they will lose their HTC for at least one year and could face penalties.

Homeowners can check online to make sure the state has received and approved their HTC application.  Enter your county and street address at the following website.  The application status is at the bottom of the property information page.

http://sdatcert3.resiusa.org/rp_rewrite/

Please contact the KatzAbosch SALT Group if you have any questions or would like us to determine the status of your HTC.

The SALT (State and Local Tax) Shaker is prepared by Andy Bareham, Chair of the KatzAbosch SALT Group

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