Don’t throw away your Maryland Homestead Exemption

tax

Just as they do every year, the Maryland State Government has sent out their yearly tax bills to homeowners. Most residents have opened the bill, groaned at the current evaluation and filed the bill away. You see, if your lender is escrowing your real estate taxes, you don’t have to do anything else.

This year, the State of Maryland has decided to require every homeowner to reapply for the Homestead Deduction. In the envelope, there is the standard assessment notice and two additional pages.

Now these additional pages look just like the usual junk mail that the State stuffs in everything they send out. All is not as it appears. The inserted pages must be looked at and reviewed and used.

One of these pages informs the property owner that everyone must apply to “continue” receiving their Homestead Deduction. If you are not now receiving the Homestead Deduction, you may use the form to apply.

The other piece of paper is the actual form needed to apply. You can apply on line at:

http://www.dat.state.md.us/ the form is available under the “homestead eligibility application” heading.

This is not automatic. After purchasing a home, you have to file for the benefit.

Don’t toss your current deduction in the circular file.

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