BALTIMORE, MD - The Maryland Department of Assessments and Taxation today announced that applications for the 2024 Homeowners’ and Renters’ Tax Credit programs, which saved Marylanders more than $58 million in FY23, are available online. The quickest and easiest way to determine eligibility for these credits, and submit an application, is by accessing the department’s innovative online tax credit application system . The deadline to file for both tax credits is October 1, 2024.
“Our department is committed to helping Maryland’s hard-working taxpayers save money on their rent or annual property tax bill, and strongly encourages all eligible residents to apply for the Homeowners’ or Renters’ Tax Credits this year,” said Director Michael Higgs. “We continue to enhance our online tax credit application system to make it faster and easier than ever before for Marylanders to apply for these important tax credits, and the department looks forward to providing the best possible service to our customers.”
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 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 FY23, 36,862 eligible homeowners received an average of $1,501 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 the 100% disabled and renters under age 60 with at least one dependent who meets certain income guidelines. This credit is issued in the form of a direct check payment of up to $1,000 a year. In FY23, 6,004 eligible renters received an average of $450 in tax relief. All Marylanders who received a Homeowners’ or Renters’ Tax Credit in 2023 will be mailed a complimentary 2024 application to their home address. To determine whether you are eligible to receive a tax credit, please visit SDAT’s online tax credit system. To download an application, please visit https://dat.maryland.gov/Pages/Tax-Credit-Programs.aspx.
While completing the tax credit application, please read the instructions carefully, provide all required documentation, and review the application to ensure that all fields are complete 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 localsupplemental 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 genera l news updates.
