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COMMISSIONERS AGAIN ENHANCE STATE HOMEOWNER TAX CREDIT PROGRAM FOR CALVERT COUNTY RESIDENTS
Until recently, property values had been dramatically and steadily rising throughout the region. For low and moderate-income families, this resulted in increasingly heavy property tax burdens, in some cases threatening their ability to stay in their homes. The Board of County Commissioners underscored, its commitment to supporting homeowners by making funds available to supplement the State of Maryland's Homeowners Property Tax Credit Program. This county program went into effect July 1, 2006 (Fiscal Year 2007).
Effective for the tax year that started July 1, 2008 the qualifying annual gross household income limit was increased to $60,000. (In the prior two tax years the income limit was $50,000). The County's tax credit will be calculated on the first $400,000 of a property's assessment.
These credits can significantly lower a tax bill. The number and dollar amount of credits issued over the past two years follows along with the amount budgeted for next year.
In Fiscal Year 2007 - 420 homeowners were issued credits totaling $183,656.
In Fiscal year 2008 - 454 parcels were issued credits totaling $230,946.
In Fiscal year 2009 - 597 parcels were issued credits totaling $329,065.
In Fiscal year 2010 - $375,000 is the projected cost.
If your gross household income is less than $60,000 you should review the HTC-60 application. The link is below.
For further information and/or applications go to www.dat.state.md.us/sdatweb/taxcredits.html. The application is form "HTC-60". Only one application needs to be filled out to apply for both the state and county credits. Applications and information can also be obtained by contacting the Calvert County Treasurer's Office, 410-535-1600, X2277, or 301-855-1243, X2277; or the State Department of Assessments and Taxation at 1-800-944-7403. Applications must be filed no later than September 1 each year. (This date often gets extended to October 31)
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NOTE AGAIN THAT ONLY ONE APPLICATION (HTC-60) IS REQUIRED TO APPLY FOR BOTH THE COUNTY AND STATE'S PROGRAM. THE STATE WILL REVIEW THE ONE HTC-60 FOR BOTH CREDITS AND DETERMINE YOUR ELIGIBILITY. (You need to include a copy of your federal income tax return. The HTC-60 application is formatted similarly to your tax return, so having the return available while filling out the application may be helpful to you).
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