By Peyton Stinnett
Baltimore Watchdog Staff Writer
Maryland homeowners and renters get an extra month to apply for property tax credits that can result in direct check payments of up to $1,000 and credit on their tax bill, Gov. Larry Hogan announced Monday.
Hogan said that the Maryland State Department of Assessments and Taxation is extending the deadline from Oct. 1 to Oct. 31 to apply for the 2020 Homeowner and Renter Property Tax Credits. The two tax credit programs save Marylanders more than $65 million per year.
Homeowners may receive an average credit of $1,348 on their tax bill and renters receive an average direct payment of $414, he said.
The Homeowners’ Property Tax Credit provides relief for eligible homeowners by setting a limit on the amount of property taxes owed based on their income. If a resident already has paid his or her property taxes and applies before Oct. 31, the tax credit will be refunded if eligible, he said.
The Renters’ Property Tax Credit Program gives tax relief to renters who pay high monthly rent that is close to their total income and do not receive federal or state housing. The credit will be in a direct check payment of up to $1,000, he said.
Applications for these tax credit programs can be submitted online through Maryland OneStop.
“Tens of thousands of Marylanders who have not yet applied may still be eligible for these tax credits, and now have an additional month to apply for this much-needed relief,” Hogan said.
Officials are encouraging homeowners to apply for the Homestead Tax Credit if they haven’t already. Once approved, the Homestead Credit will grow overtime by limiting the increase in taxable assessment each year to a fixed percentage, and is a one-time application without a filing deadline.
Applications will take 30-90 days to process once submitted, officials said. However, online applications will be processed faster than those submitted by mail.
“This is yet another step our administration is taking to ensure more of our citizens can remain safe and secure in their homes,” Hogan said.