County Executive Jan Gardner today encouraged seniors, homeowners and renters to take advantage of available tax credit programs. She highlighted the recently expanded Frederick County Senior Tax Credit, the Maryland Homeowners’ Property Tax Credit for homeowners of any age, and the Renters’ Tax Credit.
“Everyone appreciates saving money,” said Executive Gardner. “I want citizens to know about these opportunities to save money with tax credits. Last year, Frederick County residents saved more than $4 million through these programs.”
During her public information briefing today, Executive Gardner explained that the Frederick County Senior Tax Credit has been expanded to include homeowners who are at least 65 years old and have a household income of $80,000 or less. If a house is owned by more than one person, only one of the homeowners must be 65. To qualify, the house must be a principal residence and the applicant must live there at least six months of the year. In addition, the applicant must have a net worth of less than $300,000, not counting the value of the home or any qualified retirement savings. The eligible income level and net worth levels were raised to allow more people to benefit from this tax credit.
To apply for the Senior Tax Credit, citizens fill out the State of Maryland’s Homeowners’ Tax Credit application, and the state will automatically determine if they qualify for the county’s tax credit. Contact the Senior Services Division at 301-600-1234 for additional information.
The Homeowners’ Property Tax Credit is available to homeowners of all ages. To qualify, residents must live in their home at least six months of the year, have a combined household income of less than $60,000 a year and have a net worth of less than $200,000 (not including the value of the home or a qualified retirement savings). The amount of tax credit varies based on income.
The application is available online from the State Department of Assessments and Taxation’s website, http://dat.maryland.gov, or a printed form is available from the State Assessments office, the Frederick County Treasury Department or the Senior Services Division. This year, applications are due by Sept. 3.
The Renters’ Tax Credit is for those who are over age 60, people of any age with a dependent who is under age 18, or for people who are 100 percent disabled. The credit is worth up to $1,000, depending on a person’s household income.
For more information on tax credits, contact the Treasury Department at 301-600-1111.