Make sure your property is registered by Dec. 31.
- Ben Gross
Monday, December 31, 2012
Have you registered your home for the Maryland Homestead Tax Credit? If not, you have only a few days left; the deadline to do so is Monday, Dec. 31, 2012. The Homestead Credit limits the potential increase in taxable property assessments to 10 percent or less each year. Applying for the credit would prevent you from having to pay taxes on any increase above that 10 percent cap. The Department of Taxation and Assessments website offers the following example: Assume that your old assessment was $100,000 and that your new phased-in assessment for the 1st year is $120,000. An increase of 10% would result in an assessment of $110,000. The difference between $120,000 and $110,000 is $10,000. The tax credit would apply to the taxes due on …
The council voted the bill down 3-2, but the issue hasn't gone away.
Howard County community pools will not be getting property tax relief anytime soon. The county council Thursday night voted 3-2 against legislation that would provide nonprofit swim clubs with a property tax credit, despite an attempt by the bill’s sponsor to garner support by proposing an amendment that would have lessened the credit. “These pools have been in existence for 50 years and they’ve never asked for a dime from the county,” said councilwoman Courtney Watson, D-Ellicott City, before casting the final vote, the second in favor of the bill. “And they’re not asking for a handout from the county now.” Watson introduced the bill, which was co-sponsored by Greg Fox, R-Fulton, at the request of nonprofit swim clubs. The club owners …