On March 7, 2017 the Montgomery County Council passed a bill which will provide a tax credit for people who are over 65 years of
age and who either:
Have owned and lived in the dwelling for at least 40 consecutive years or are retired from one of the United States’ Armed Forces (Military Retiree).
This bill will provide a 20% credit, on County property taxes only, the credit is granted for 5 consecutive years and is not available after that 5 year period.
Eligible residents will receive a 20% credit for the property tax imposed on their homes, granted annually, for up to five years. To qualify for the credit, the maximum assessed value of the home is $650,000 for those who have lived in their homes for 40 years, and $500,000 for veterans. Specific requirements apply.
For 2017 taxes only, applications will be accepted until September 1, 2017. If you wish to receive a credit for your 2017 taxes, you must apply by September 1, 2017.
Click here for more information on this bill and click here for a link to the application.
My team and I are real estate experts in Montgomery County and the surrounding Metro area. When buying or selling a home, please consider us your resource for all things real estate. If you need referrals for obtaining a home loan or are refinancing, want a recommendation on a home warranty, need a service or just have a home related question, please give me a call at 301-910-9910 or email me at bobmyersteam@gmail.com.
