2024 Maryland Homeowners and Renters Tax Credit: Applications Now Available

How to apply

Earlier this month, the Maryland Department of Assessments and Taxation announced that the applications for the 2024 Homeowners’ and Renters’ Tax Credit programs are now available online. The 2023 program helped Marylanders save more than $58 million.

Applicants can visit the department’s innovative online tax credit application system to determine their eligibility for the Maryland Homeowners and Renters Tax Credit programs, as well as to submit an application. The deadline to apply for both programs is Oct. 1, 2024.

“We continue to enhance our online tax credit application system to make it faster and easier than ever before for Marylanders to apply for these important tax credits, and the department looks forward to providing the best possible service to our customers,” Director Michael Higgs said in a press release.

Although the deadline is October 1, the credit for applicants whose applications are approved by April 15 will reflect in their July tax bill. If an applicant applies by October 1 and has already paid their property taxes, the county finance office will refund any tax credit available.

Those who received the Maryland Homeowners and Renters Tax Credit in 2023 will automatically receive a 2024 application to their home address. Others can visit the Maryland Department of Assessments and Taxation’s website to download an application.

Maryland Homeowners and Renters Tax Credit programs: what does it offer?

Maryland’s Homeowners’ Property Tax Credit Program offers tax relief to eligible homeowners by putting a limit – based on income – on the property taxes owed. In fiscal year 2023, 36,862 eligible homeowners, on average, received $1,501 in tax relief.

Similarly, the Renters’ Property Tax Credit Program offers tax relief to eligible renters who pay more rent relative to their total income. A credit of up to $1,000 is available to eligible renters in the form of a direct check.

In FY23, 6,004 eligible renters, on average, received $450 in tax relief. Though the majority of the recipients are aged 60 or older, the credit is also available to 100% disabled, as well as renters below 60 years with at least one dependent. The applicant must also meet the income guidelines.

In addition to the Maryland Homeowners and Renters Tax Credit, residents may also qualify for a Homestead Tax Credit, which will limit taxable assessment increases on their principal residence.

Many counties and municipalities also offer additional residential tax credits. If a resident qualifies for the state homeowners’ credit, he or she may automatically qualify for local homeowners’ credits if they meet the requirements.

Homeowners and renters can sign up for the Department of Assessments and Taxation’s email distribution list to receive timely reminders and general news updates.