The Maryland Department of Assessments and Taxation announced that applications for the 2023 Homeowners’ and Renters’ Tax Credit programs, which saved Marylanders more than $58.3 million in fiscal 2022, are available online.
The deadline to file for both tax credits is Oct. 1.
The Homeowners’ Property Tax Credit Program provides tax relief for eligible homeowners by setting a limit on the amount of property taxes owed based on their income. Applications received and approved by April 15, 2023, will be included on the initial July tax bill. If a resident has already paid property taxes and applies by Oct. 1, any tax credit that the homeowner may be eligible for will be refunded by their county finance office.
In fiscal 2022, 37,805 eligible homeowners received an average of $1,464 in tax relief.
The Renters’ Property Tax Credit Program similarly provides tax relief for eligible renters who pay high monthly rent relative to their total income. The majority of recipients of this credit are Marylanders aged 60 or older, but the program is also available to those who receive Social Security or Supplemental Security Income, a federal government disability pension, a federal military disability pension or are certified as being disabled by a local health officer.
Renters under age 60 with at least one dependent who meet certain income guidelines may also be eligible. This credit is issued in the form of a direct check payment of up to $1,000 a year. In fiscal 2022, 6,636 eligible renters received an average of $446 in tax relief.
All Marylanders who received a Homeowners’ or Renters’ Tax Credit in 2022 were mailed a complimentary 2023 application to their home address. To determine whether you are eligible to receive a tax credit, visit the department’s online tax credit system. To download an application, go to https://dat.maryland.gov/Pages/Tax-Credit-Programs.aspx.
Homeowners may also be eligible to receive a Homestead Tax Credit to limit taxable assessment increases on their principal residence. To determine eligibility, homeowners may complete a one-time application online, which is available to complete all year.
Many counties and municipalities also offer additional residential tax credits. If a resident is approved to receive the state homeowners’ credit, they may automatically receive local supplemental homeowners’ credits for which they are eligible.