The Howard County Council approved changes to the Aging in Place Tax Credit on Oct 3. Council Bill-52 was introduced by District 4 representative Deb Jung to increase the home value assessment ceiling and eliminate the cap on the number of years the credit can be received.
During deliberation, Councilmember David Yungmann introduced an amendment that will extend the credit to an estimated 4,000 additional senior households. The amendment reduced the single home ownership requirement from 35 to 30 years and replaced the number of years the credit can be received from five to eight years.
“One of my goals all along has been to make this benefit available to more seniors, which I was fortunately able to achieve last night,” commented Yungmann. “I appreciate Deb Jung for introducing this bill.”
The Aging in Place Tax Credit was enacted by the Maryland General Assembly in 2017 to encourage seniors to age in place in their longtime homes. State law requires that a recipient reside in the same home for a number of consecutive years to receive the credit.
How does one apply for this tax credit?