If you’re a Maryland homeowner, there’s a good chance you’re paying more in property taxes than necessary.
Every year, thousands of eligible homeowners never apply for the Maryland Homeowners’ Property Tax Credit, leaving hundreds—or even thousands—of dollars on the table.
If rising property taxes have been putting pressure on your monthly budget, this is one program you shouldn’t ignore.
What Is the Maryland Homeowners’ Property Tax Credit?
The Maryland Homeowners’ Property Tax Credit is a state program designed to reduce property taxes for eligible homeowners whose tax bills represent a significant portion of their household income.
Rather than providing a flat discount, the program limits the amount of property tax qualifying homeowners are required to pay based on their income. The credit can significantly reduce your annual property tax bill if you qualify.
Who May Qualify?
While every situation is different, homeowners generally must:
- Own the home (or have a legal interest in it)
- Use the property as their primary residence
- Meet Maryland’s household income requirements
- Meet certain asset and eligibility guidelines established by the state
Eligibility depends on several factors, so even if you’ve never qualified before—or assume you earn too much—it’s worth checking.
How Much Could You Save?
The amount varies from homeowner to homeowner.
Some homeowners receive a few hundred dollars in tax relief, while others save several thousand dollars depending on their income, property taxes, and individual circumstances.
Don’t Confuse This With the Homestead Tax Credit
Many homeowners think they’re already receiving every available tax benefit because they have the Homestead Tax Credit.
They’re actually two different programs.
- Homestead Tax Credit limits how much your taxable assessment can increase each year.
- Homeowners’ Property Tax Credit reduces your actual property tax bill if you meet income and eligibility requirements.
You may qualify for one, both, or neither depending on your situation.
How to Apply
Maryland makes the application available online through the Department of Assessments and Taxation.
You can begin your application here:
Maryland Homeowners’ Property Tax Credit Application
Applications are generally accepted each year through October 1, although homeowners who apply earlier may see the credit reflected directly on their tax bill if approved.
Buying or Selling a Home?
Property taxes are only one piece of the financial picture.
Whether you’re purchasing your first home, refinancing, downsizing, or exploring financing options later in life, understanding the programs available to Maryland homeowners can make a meaningful difference.
If you have questions about buying a home or financing options in Maryland, I’m always happy to help.
Contact Mark McVearry today for honest advice and personalized mortgage guidance.
