Gov. Martin O'Malley last week signed a law extending the deadline for homeowners to apply for the Homestead Tax Credit.
Homeowners now have until Dec. 30, 2013, to submit an application.
The credit is intended to keep property taxes on homeowner-occupied residences from increasing more than 10 percent (or less, depending on the jurisdiction) each year.
- As homestead tax credit deadline approaches, outreach intensifies
- Auditors urge greater oversight of homestead credit
- The Real Estate Wonk blog
- Top 10 most expensive homes in the Baltimore region in 2013 [Pictures]
- Local housing market Top 10s for 2012 [Pictures]
- Most expensive Baltimore-area communities 2012 [Pictures]
See more photos »
Some owners of vacation and rental properties have been receiving the homestead credit improperly.
In order to reduce the number of taxpayers receiving the credit on ineligible properties, more than five years ago the legislature instituted a one-time application requirement.
The original application deadline was Dec. 31 of last year.
As the deadline approached, though, legislators became concerned that not all eligible homeowners were going to meet it.
They feared many of their constituents' property tax bills would increase significantly this year and passed the deadline extension as a remedy.
For more information on how to apply for the credit, or to check whether you have already applied, visit the Maryland Department of Assessments and Taxation website.
Have a real estate news tip or experience to share? Email me at email@example.com.