For many Marylanders, the cost of property taxes or rent can
be challenging. To help ease this burden, the state offers the Homeowners and
Renters Tax Credit programs, designed to provide financial relief to eligible
residents.
What Are These
Tax Credits?
The Homeowners Tax Credit is
available to low-income homeowners, helping reduce the amount of property taxes
owed based on income. If your property taxes exceed a certain percentage of
your income, the state will cover the difference, making homeownership more
affordable.
The Renters Tax Credit provides
financial assistance to renters who are struggling with high rent costs. This
credit offers direct payments to qualifying low-income renters, particularly
seniors, disabled individuals, and families.
Who Qualifies?
Eligibility is primarily based on
income. Households earning $60,000 or less may qualify, with additional
considerations for age and disability. Seniors aged 60 or older as well as
disabled individuals are encouraged to apply, but all low-income homeowners and
renters should check their eligibility.
How to Apply
Applying is simple:
·
Visit
the Maryland OneStop portal (https://onestop.md.gov) to start your
application. This online platform guides you through the process.
·
Gather
Your Documents: You’ll need to provide proof of income, details about your
home or rental, and any relevant information about your age or disability
status.
·
Submit
by October 1st: The deadline is crucial. Be sure to submit your
application by October 1st to ensure you receive the credit for this
tax year.
Why Apply?
These tax credits are designed to
help Marylanders manage the costs of housing. Whether you own your home or
rent, these programs can provide significant financial relief, making it easier
to stay in your home and maintain your quality of life.
Don’t miss out. Apply by October 1st
through the Maryland OneStop portal to take advantage of this valuable
opportunity.
Yehoshua
Sopher founded Elicit to help people earn the government benefits they deserve.
He can be reached at elicit.yehoshua@gmail.com or 410-205-9668.
