For immediate release:
April 4, 2023
SDAT's 2023 Homeowners' and Renters' Tax Credit Applications Now Available Online
BALTIMORE, MD - The
Maryland Department of Assessments and Taxation (SDAT)
today announced that applications for the 2023 Homeowners’ and Renters’ Tax Credit programs, which saved Marylanders more than $58.3 million in FY22, are now available online. The deadline to file for both tax credits is October 1, 2023.
“We continue to enhance our online tax credit application system to make it faster and easier than ever for Marylanders to apply for these important tax credits,“ said Maryland Department of Assessments and Taxation Director Michael Higgs. “We are committed to helping Maryland’s hard-working taxpayers save money on their rent or annual property tax bill, and strongly encourage all eligible residents to apply for the homeowners’ or renters’ tax credits this year.”
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 their property taxes and applies by October 1, any tax credit that the homeowner may be eligible for will be refunded by their county finance office. In FY22, 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 (SSI), 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 leastone dependent who meet certain income guidelines may also be eligible. This credit isissued in the form of a direct check payment of up to $1,000 a year. In FY22, 6,636 eligible renters received an average of $446 in tax relief.
While completing a tax credit application, Marylanders are advised to please read the instructions carefully, provide all required documentation, and to review the application to ensure that all fields have been completed before submitting it to the department.
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.
To ensure that eligible tax credit recipients submit their applications by the required
deadline, the department strongly encourages all homeowners and renters in Maryland to sign up for our email distribution list to receive timely reminders and general newsupdates.
-###-