11/22/20151 Homeowners’ Tax Credit The State Department of Assessments & Taxation Helping Marylanders remain in their homes for 37 years.

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11/22/20151 Homeowners’ Tax Credit The State Department of Assessments & Taxation Helping Marylanders remain in their homes for 37 years.

2 Once upon a time a couple purchased their dream house.

3 It wasn’t big. It wasn’t fancy. But it was what they needed at a price they could afford.

4 Other people noticed that it seemed to be a nice area to live.

5 And they began to build their homes there. They built bigger and more expensive homes. Homes that the couple could not afford.

6

7

8 The Property Tax Bill that was $400 when they purchased the home was now $2000. County Tax Bill County Taxes$ 1630 State Taxes 250 Special Area Taxes 220 Total Taxes$ 2000 FOR SALE WHAT COULD THEY DO?

9 Someone told him to apply for the Homeowners’ Tax Credit Program What is the Homeowners' Property Tax Credit Program? The State of Maryland has developed a program which allows credits against the homeowner's property tax bill if the property taxes exceed a fixed percentage of the person's gross income. In other words, it sets a limit on the amount of property taxes any homeowner must pay based upon his or her income.

10 County Tax Bill County Taxes$ 1630 State Taxes 250 Special Area Taxes 220 Total Taxes$ 2000 Less Homeowners’ Tax Credit 700 Taxes Due$ 1300 They applied for the Homeowners’ Tax Credit and were eligible to receive a credit on the bill.

11 Homeowners’ Tax Credit The State Department of Assessments & Taxation Helping Marylanders remain in their homes for 37 years.

11/22/ RENTERS’ TAX CREDITS Have you heard that Renters’ indirectly pay property taxes?

11/22/ How is that possible, we don’t own a house? how

11/22/ Well, when your landlord determines how much he will charge for rent he takes into consideration the amount of property taxes that he has to pay for the dwelling.

11/22/ So, you see renters do indirectly pay property taxes.

11/22/ How do I determine if I may be eligible?

11/22/ You should look at the charts on the application to see if you fall under one of the categories. If so, you are encouraged to apply.

11/22/ Were you over 60 years old last year? May be eligible and encouraged to apply Did you receive Federal or State housing subsidy? Were you permanently and totally disabled? Was your income under the poverty level? Were you the surviving spouse of a person who would have been over 60 or was permanently and totally disabled? NOT ELIGIBLE Did you have a dependent child under 18 in your home last year? NO NONO NONO YES CHART 3 Be certain to consult Charts 1 and 2 for eligibility requirements