Suburban Hospital Newsletter - 7/28/22
Source: Mid-County newsletter, July 1, 2022
The Montgomery County Council this week approved an extension of the Senior Tax Credit. Its vote extends the length of time that seniors and retired military members are eligible to apply for a 20 percent tax break on their homes. The extension from five years to seven years was made possible by a change in Maryland law during the most recent legislative session.
The Senior Tax Credit is available to homeowners who are at least 65 years old if the property is in their name and it is their main residence. All applicants for any Homeowners Tax Credit must be approved by the Maryland State Department of Assessments and Taxation. It applies to a homeowner's property tax bill if the property taxes exceed a fixed percentage of the person's gross income.
For more information on this tax credit and others, please click here.