Homeowners in Montgomery County, MD can save money on property taxes when they get the Homestead Tax Credit application approved. Because of a change in Maryland law, owner occupied homeowners must now have an approved Application for Homestead Tax Credit form on file with the state.
Program 1 – The Homestead Tax Credit Program limits the annual taxable assessment increase to 10% for residential properties. One exceptions is for the first year following the purchase.
Program 2 – Homeowners of residential, owner-occupied homes in Montgomery County get an annual $692 County Property Tax Credit on their property tax bill. However, as of 2023, homeowners must have an approved Homestead Application on file with MD by May 1, 2023.
YOu can check your status now by going to: https://sdat.dat.maryland.gov/RealProperty/Pages/default.aspx
Your Homestead Application Status is at the bottom portion of the state tax web page.
Note – The Homeowners’ Tax Credit Application Status Refers to an income based Tax Credit program. The $692 County credit is different and goes off of having the Homestead Application Approved
There are two ways to apply –
Online – Maryland is currently working on a better online application process but it’s not done. To start the current online process, go to: https://sdathtc.dat.maryland.gov/ Assuming they havne’t updated the process, you will you request an Access Number from SDAT. Simply email your name and address with the subject line of “Montgomery County Homestead Tax Credit” to email@example.com. Within a few days, SDAT will send you your access number.
Application by mail, https://dat.maryland.gov/SDAT%20Forms/Homestead_application.pdf