According to a 2017 report released by the Maryland Department of Assessment and Taxation, residential and commercial properties in Prince George’s County increased from the last assessment. The 750,000 properties accessed are located throughout the state of Maryland. These properties known as “Group 2” are reassessed by the state every three years.
The last time the Group 2 properties were assessed was in 2014. Prince George’s County Group 2 properties that were assessed increased 13.5 percent, since the last assessment. Commercial property values increased by 11.5 percent and residential property increased by 14.2 percent.
As the property values increase so will the property taxes. The Homestead Tax Credit exemption is available to residential property owners, who apply and meet certain qualifications. Under the homestead exemption, the assessment increase will be limited on the property that is actually classified as the owner’s principal residence. Eligible homeowners will receive substantial homestead credits annually that will be applied to their property tax bill.
All Maryland homeowners are now required to submit a one-time application to the Maryland Department of Assessments and Taxation to establish eligibility for the tax credit.
Homestead Tax Credit
The assessment increases cause the residential and commercial property taxes to increase, as well. Many Prince Georgians are living below the poverty level, even though they are classified as a homeowner, this makes it extremely difficult to pay property taxes. The homestead exemption allows residential property owners to save on their property taxes.
The way the exemption works is it allows the property owner to exclude a portion of their home’s value from the assessment. The tax bill will depend on the amount of the exemption allowed by the state of Maryland. The homestead exemption could potentially decrease the homeowner’s tax bill by hundreds of dollars.
The state will determine the applicant’s eligibility status. Veterans, surviving spouses, active duty military personnel, senior citizens over the age of 65 and disabled people may qualify for the Maryland property tax exemption. The homeowner can only claim the property they live in, which is knows as the “principal residence”.
Veterans with a total service or permanent connected disability may be completely exempted from property taxes. There is no filing date deadline for veterans, but other applicants will need to meet the September 1 filing deadline.
Homeowners, who have received a Real Property Account Number and Access Number can file the Homestead Tax Credit application electronically, by accessing the following link: https://sdathtc.dat.maryland.gov/SearchType.aspx?County=17&SearchType=Continue.
Other residents will need to download the PDF version of the application and then mail it to Department of Assessments and Taxation (see below for address). Completed applications can also be submitted to the Department via fax (see below for fax number).
Monitor Application Process
Once the application is submitted, applicants can monitor the application status by visiting the Real Property Data Search (SDAT) website.
Department of Veterans Affairs
16 Francis Street
Annapolis, Maryland 21401
Completed Homestead Tax Credit should be mailed to:
Department of Assessment and Taxation
Homestead Tax Credit Division
301 West Preston Street
Baltimore, Maryland 21201
Fax (401) 225-9344