The Maryland Homestead Eligibility Application (PDF) is a document used to determine whether an individual is eligible for the Maryland Homestead Tax Credit. This credit provides a reduction in property taxes for qualified homeowners on their primary residence. The application consists of two parts: the Homestead Tax Credit Claim Form (Form 502HTC) and the Maryland Homestead Eligibility Certification (Form 502HEC). The Homestead Tax Credit Claim Form is used to determine the amount of the tax credit available, and the Maryland Homestead Eligibility Certification is used to verify that the applicant meets the eligibility requirements for the credit. There are three types of Maryland Homestead Eligibility Application (PDF): the Application for Eligibility for the Maryland Homestead Tax Credit (Form 502HTC), the Application for Eligibility for the Maryland Homeowner's Property Tax Credit (Form 502HPC), and the Application for Eligibility for the Circuit Breaker Tax Credit (Form 502CB).
Maryland Homestead Eligibility Application(PDF)
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FAQ
The dwelling must be the owner's principle residence and the owner must have lived in it for at least six months of the year, including July 1 of the year for which the credit is applicable, unless owner is temporarily unable to do so by reason of illness or need of special care.
Maryland requires all homeowners to submit a one-time application to establish eligibility for the Homestead Tax Credit. The Homestead Tax Credit Eligibility Application is needed to ensure that homeowners receive the Homestead credit only on their principal residence.
The Homestead Tax Credit (HTC) limits the increase in taxable assessment each year to a fixed percentage. Every county and municipality in Maryland is required to limit taxable assessment increases to no more than 10% per year, and the State also limits the taxable assessment for the State portion of the tax to 10%.
In Maryland, the homestead exemption applies to real property, including your home, condominium, or co-op. You must own and occupy the property in order to protect it. The homestead exemption also applies to a manufactured home that you have converted to real property by permanently affixing it to the land.
Be at least 65 years of age.
Be at least 65 years of age.
The tax credit is based upon the amount by which the property taxes exceed a percentage of your income ing to the following formula: 0% of the first $8,000 of the combined household income; 4% of the next $4,000 of income; 6.5% of the next $4,000 of income; and 9% of all income above $16,000.
Your net worth, not including the value of the property on which you are seeking the credit or any qualified retirement savings or Individual Retirement Accounts, must be less than $200,000. Your combined gross household income cannot exceed $60,000.