What is the Homestead Credit?
A. The Homestead Credit is designed to limit the tax liability for homeowners that experience rapidly rising assessments. Effective July 1, 2007, increases to assessments are limited to 8% for the County tax; prior to July 1, 2006 , the rate was 10%. The cap for each town may be different. Starting in 2008, the State will require you to apply for the credit. Please visit the State website at www.dat.state.md.us for more information on this.
