Deadline Nears for Homeowners Tax Credit Application
Residents Have Until Oct. 31 to Apply for City Credit
The City of Rockville offers a supplemental credit to the State of Maryland's Homeowners' Tax Credit Program, and the deadline to apply has been extended to October 31, 2012.
This program provides real property tax credits to low- and moderate-income residents for property taxes on their principal residence.
Under the City's current program, households with gross incomes up to $91,000 per year and a household net worth of less than $200,000 (not including the value of the home or qualified retirement savings) could qualify for tax relief on the first $495,000 of their home's assessed value. For low-income households, the credit could be several hundred dollars, with a maximum credit of the total City tax due on the first $495,000 of assessed value.
Seniors age 70 and up who are eligible for any state, county, or Rockville credits will automatically receive the homeowners tax credit with their application.
To apply for the tax credit, residents can submit a detailed application to the state's Department of Assessments and Taxation (DAT) at www.dat.state.md.us and it will be processed at the city level as well.
For more information, visit www.dat.state.md.us or call Rockville's Department of Finance at 240-314-8400 or the Maryland DAT toll free at 1-800-944-7403.
