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Last day to file for Homestead Tax Credit for 2013. Fax it!

December 31, 2012 by  
Filed under Blog

FAQ
The Homestead Tax Credit requires a signed application filed by December 31, 2012. The post office is now closed, but you can still fax it. Fax your application to 410-225-9344. Strictly speaking the deadline is midnight. But If you are late, I would still fax it. You know nobody will check the faxes until the office opens on Wednesday. I don’t know how strict they will be. If there are lots of applications, they might just accept them.

You can read more about the Homestead Tax Credit:

URGENT Please help me save our family, friends, and neighbors some money.

December 30, 2012 by  
Filed under Featured

In 2007 a new law went into effect that required that we FILE a one time simple APPLICATION in order to get the credit. Up to now, the deadline kept getting extended because so many of us still had not filed. But at last we will reach the final deadline on 12/31/2012, and they aren’t going to give the credit anymore for those of us that don’t file.

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Many of us own homes in Maryland, or know people that own homes in Maryland. For some of us, in the time we have owned these homes, property values, and thus property taxes have increased.

But to save existing homeowners from being priced out of their own homes by rising property taxes, Maryland has a Homestead Tax Credit. That effectively kept the tax increase below 10% a year, and often much lower than that, IF this was your only principal residence.

When we bought our homes, the title company notified Maryland that the house would be our principal residence for us. So we all got the tax credit automatically.

In 2007 a new law went into effect that required that we FILE a one time simple APPLICATION in order to get the credit. Up to now, the deadline kept getting extended because so many of us still had not filed. But at last we will reach the final deadline on 12/31/2012, and they aren’t going to give the credit anymore for those of us that don’t file.

While many of us did file, many still did NOT. There is substantial money at stake. I have two neighbors that did not yet file. This information is available online. And it shows one of them will pay an extra $528 dollars a year in property taxes starting next year, unless they fill out a simple form and mail it in postmarked by December 31 of this year.

So even if you have filed, or don’t own a house in Maryland, you can help. Check for your friends, family, and neighbors. If they didn’t file, make sure to let them know they still can until December 31st.

The information is all available online via the Maryland SDAT web site. It is a bit tedious to find the many people that haven’t yet filed. But if you leave off the street number when searching, you will see a list of everyone on that street. You can then click through each record to see if someone has filed.

All you need to research is the street name. Leave off the “Road, Lane, Circle, Court, etc” part. Click submit. Then a list of everyone on that street that did not file, and how much money is at stake will appear in a table.

Let’s let them know and help them file if they need help. Some people will need the help. And if some of these people are up to the task, maybe they can Pay It Forward and look up their family, friends, and neighbors and start the process over.

Let’s get this ball rolling. If you can spread the word, and help this go viral, that will help too. There are very few days left.

If you miss the deadline, you can file next year, but that will only protect you from future tax increases. So this is very time sensitive. To get the benefit on your next tax bill due July 1st, 2013, you must file an application by December 31st, 2012.

Best wishes for a Happy New Year,
Peter

Peter Baumbach
Associate Broker, Realtor with Taylor Properties
peter@HelpShop.com

Search for application status here: http://sdatcert3.resiusa.org/rp_rewrite/index.aspx?county=04
Download the application here: http://www.dat.state.md.us/sdatweb/Homestead_application.pdf