Mayor Brandon Scott is encouraging eligible Baltimore residents to apply for the Maryland Property Tax Credit, three weeks ahead of an Oct. 1 deadline.
“We know that everyone is hurting because of the fall out from this pandemic,” the Democrat said at a news conference Tuesday. “We want to keep people in their homes so that they can pass their homes on to the next generation to create generational wealth in families and communities throughout Baltimore.”
The state tax credit applies to homeowners who own their primary residence, have a gross household income of less than $60,000 and have a net worth less than $200,000, not including the value of their primary residence or retirement savings.
It sets a tiered property tax limit for different income levels based on the amount by which the property tax exceeds a percentage of a household’s income. For example, a household with a $20,000 income that receives the credit would have their property taxes capped at $780.
For homeowners 70 years old or older, the tax credit is retroactive for three prior years, each of which require separate applications.
Read more (and listen) at WYPR.
