County Executive Urges Seniors, Homeowners & Renters to Take Advantage of Tax Credit Programs
County Executive Jan Gardner today encouraged seniors, homeowners and renters to take advantage of available tax credit programs. She highlighted the Maryland Homeowners’ Property Tax Credit for homeowners of any age, the Frederick County Senior Tax Credit, and the Renters’ Tax Credit.
“I want to make sure people know they may save some money by taking advantage of these tax credits,” said Executive Gardner. “Last year, Frederick residents saved more than $3.7 million through these programs, yet many people don’t know about them.”
During her weekly public information briefing today, Executive Gardner explained that the Homeowners’ Property Tax Credit is available to homeowners of all ages. To qualify, residents must live in their home at least six months of the year, have a combined household income of less than $60,000 a year and have a net worth of less than $200,000 (not including the value of the home or a qualified retirement savings). The amount of tax credit varies based on income.
The application is available online from the State Department of Assessments and Taxation’s website, www.dat.state.md.us, or a printed form is available from the State Assessments office, the Frederick County Treasury Department or the Department of Aging. Applications are due by Sept. 1.
The Frederick County Senior Tax Credit is for homeowners who are at least 65 years old and who have a household income of $70,000 or less. If a house is owned by more than one person, only one of the homeowners must be 65. To qualify, the house must be a principal residence and the applicant must live there at least six months of the year. In addition, the applicant must have a net worth of less than $200,000, not counting the value of the home or any qualified retirement savings.
To apply for the Senior Tax Credit, citizens fill out the Homeowners’ Tax Credit application, and the state will automatically determine if they qualify for the county’s tax credit. Applications for this tax credit are also due Sept. 1. Contact the Department of Aging at 301-600-1605 for additional information.
The Renters’ Tax Credit is for those who are over age 60, people of any age with a dependent who is under age 18, or for people who are 100 percent disabled. The credit is worth up to $1,000, depending on a person’s household income.
For more information on tax credits, contact the Treasury Department at 301-600-1111.