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2024 Tax Credit Applications for Homeowners and Renters Open In Maryland – Check It Now!

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Maryland Launches Online Applications for 2024 Homeowners’ and Renters’ Tax Credit Programs

Homeowners’ and Renters’ Tax Credit Programs Offer Relief for Housing Expenses in Maryland

According to The Baynet, the Maryland Department of Assessments and Taxation has announced that applications for the 2024 Homeowners’ and Renters’ Tax Credit programs are now available online. These programs saved Marylanders more than $58 million in the previous fiscal year. The department encourages all eligible residents to apply for these tax credits, which can provide relief on rent or property tax bills. The deadline to apply for both tax credits is October 1, 2024, and applications can be submitted through the department’s online tax credit application system.

The Homeowners’ Property Tax Credit Program helps eligible homeowners by limiting the amount of property taxes owed based on their income. Residents who apply and are approved by April 15 will see the credit applied to their July tax bill. Meanwhile, the Renters’ Property Tax Credit Program provides relief for eligible renters paying high monthly rent relative to their income. Both programs aim to assist Marylanders in managing their housing expenses. Additionally, eligible tax credit recipients will receive reminders and updates via email to ensure timely application submission.

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2024 Tax Credit Applications for Homeowners and Renters Open In Maryland – Check It Now!(PHOTO: getty image)

Understanding Additional Benefits: The Homestead Tax Credit and Local Supplemental Credits

Maryland residents can go to the Maryland Department of Assessments and Taxation’s website to apply for tax credits. They can either use the online system or download the application. It’s important to follow the instructions, give all needed documents, and check the application before sending it. Homeowners might also get the Homestead Tax Credit to keep their property taxes from going up. Some might even get extra credits from their local area along with the state credit.

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