4 out of 5 Maryland homeowners miss out on tax credit!

MAY 1, 2012, is the deadline to apply for this income-based discount on Baltimore City’s July 1, 2012, property tax bill.

An estimated 4 out of 5 eligible homeowners fail to even apply for this benefit. They just don’t know about it!  Yet, in these hard times, the discount provided could help prevent foreclosure. Go to http://www.dat.state.md.us/sdatweb/htc.html.  The State’s Homeowners’ Hotline in Baltimore is 410-767-4433.

Summary of Homeowners’ Property Tax Credit Qualifications:

If you own your own home and live there for at least 6 months a year;

If your total gross household income is $60,000 a year or less, including the income of all household residents;

If your house is assessed at $300,000 or less by the State; and,

If you have less than $200,000 in savings, stocks, the value of other properties you may own — but NOT COUNTING the value of your own home, the cash value of IRAs, or qualified retirement savings plans …

THEN,

No matter how young or old a homeowner you are, you may be eligible and should file an application for the Homeowners’ Property Tax Credit by or before MAY 1, 2012, to be eligible for a reduction of the City property tax bill of July 1, 2012.

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