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REQUIREMENTS
Net worth less than $200,000, not including the house or any qualified
retirement savings or Individual Retirement Accounts.
CALCULATION
INCOME
TOTAL
SHARE
NUMBER
OF
TAX CREDIT
OF TOTAL
RECIPIENTS
AMOUNT
AMOUNT
22
$46,804
1.00%
$5,000 - $10,000
256
$568,843
11.90%
$10,000 - $15,000
485
$953,709
20.00%
$15,000 - $20,000
611
$1,057,342
22.10%
$20,000 - $25,000
659
$905,821
19.00%
$25,000 - $30,000
584
$632,456
13.20%
1,106
$612,188
12.80%
3,723
$4,777,163
100.00%
The program provides tax credits for homeowners who qualify on the basis
of their household income as compared to their property tax bill.
The State Homeowners Property Tax Credit (HOTC) program and its
Montgomery County supplement are administered by SDAT
Granted to eligible homeowners of all ages. Even though the State HOTC is
applied against all real property taxes (State, County, and Municipal), the
County supplemental credit is applied only against the General County and
Special Service Area real property tax.
Number of Recipients
Average
Total Supplement
Supplement
FY16
4,810
$4,757,440
$989.07
FY15
4,899
$4,040,480
$824.76
FY14
4,957
$4,153,010
$837.81
FY13
5,178
$4,259,728
$822.66
Taxpayers must apply for the State HOTC to be considered for the
supplemental tax credit.
FY12
5,199
$4,148,948
$798.03
FY11
5,115
$3,887,300
$759.98
Effective levy year 2005, Montgomery County enhanced the program by (1)
doubling the maximum property assessment amount used for computing the
tax to $300,000, and (2) changing the income formula to allow for eligibility
at a higher income level.
FY10
2,980
$2,279,429
$764.91
FY09
4,805
$3,631,810
$755.84
FY08
4,822
$3,362,398
$697.30
Due to changes in the State HOTC credit program in levy year 2006, qualified
retirement savings are now excluded from the maximum $200,000 net worth
requirement (this net worth requirement already excluded the value of the
principal property).
FY07
4,704
$3,223,950
$685.36
FY06
5,121
$4,541,553
$886.85
FY05
2,884
$557,228
$193.21
At least 65
Principal Residence
50 percent of the combined State
Homeowners Tax Credit and County
Supplement. Shown as one combined amount
on the taxpayers property tax bill.
Senior credit may be based on (1) the State
credit (if the County Supplement is zero), (2)
the County Supplement (if the State credit is
zero), or (3) both the State credit and County
Supplement.
Although this credit does not require a
separate application, taxpayers must apply for
the State HOTC to be considered for the
senior tax credit.
Since the HOTC application requests
information on the age of the applicant, SDAT
can make the determination of eligibility for
the Senior credit.
Levy Year
Amt ($)
Recipients
2014
523,007
2,901
2013
540,517
2,951
2012
548,733
3,063
2011
534,462
3,075
2010
500,757
3,025
2009
293,633
1,763
2008
467,845
2,842
2007
433,133
2,852
Note: Since SDAT does not provide the certified amount of Senior Credit but includes it with the
Supplemental Homeowners Tax Credit (see previous page), the amounts shown are estimated as
25% of the combined Supplement + Senior Credit for the estimated number of eligible recipients.
Levy Year
Credit Amount
Amt ($)
Recipients
2014 $
692
$ 168,787,213
243,913
2013 $
692
$ 168,674,325
245,369
2012 $
692
$ 168,379,383
245,022
2011 $
692
$ 169,025,541
250,333
2010 $
692
$ 168,686,072
243,766
2009 $
692
$ 168,168,180
243,722
2008 $
690
$ 142,295,619
245,761
2007 $
579
$ 150,295,953
245,181
Homestead Credit
Recipients
962,007
2,334
2013
894,907
3,271
2012
2,463,384
7,467
2011
6,904,893
23,768
2010
46,094,294
89,414
2009
134,723,816
176,108
2008
213,955,975
224,125
This program is administered by SDAT and applies only to owneroccupied residential dwellings who have applied for the credit.
This credit is not applicable in the first year following the purchase of a
new home.
Credit Amount
2014
Levy Year
Since the cumulative credit can be significant, some taxpayers may still
observe growth in their taxable assessment during times of weak real
estate market conditions as prior year growth is still being phased in.
Permanently and totally disabled and has qualified for federal benefits or has been certified by the County Health Officer as totally disabled; or
Has gross income below the poverty threshold that is established by the U.S. Department of Commerce, Bureau of the Census in August of the previous calendar year;
Has one or more dependent children under 18 years old living with the renter; and
Does not receive federal or State housing subsidies or reside in public housing.
Gross income is under the limit set each year ($16,317 in income for a 2 person household in 2015). amount varies by household size.
all applicants must:
The property tax relief is the assumed property tax on real property less a percentage of the combined income of the renter.
Assumed real property tax is 15% of the occupancy rent paid by a renter during the calendar year
The property tax relief under this section may not be:
(2) granted to any renter whose combined net worth exceeds $200,000 as of December 31 of the calendar year for which the property tax relief is sought;
(3) granted to any renter whose dwelling is exempt from property tax
The amount of taxes that may be deferred for any one year is:
the amount that County taxes exceed the amount of County taxes in the prior taxable year.
Taxes that are eligible for deferral are the General County and Special Service Area real property
taxes, if:
The gross income or combined gross income of all individuals who actually reside in the dwelling did not
exceed $120,000 for the preceding calendar year; and
The owner, or at least one of the owners, must reside in the dwelling as their principal place of residence, and
must have done so for at least 5 years.
Interest accrues on the deferred taxes at a rate set annually by the County that does not exceed
the prime lending rate (~3%).
The annual interest rate set by the County applies to any tax deferred that year, regardless of the
year when the tax was first deferred (i.e., the new interest rate is applied to all deferred taxes).
The accumulation of deferred taxes and accrued interest must not exceed 50% of the full cash
value of the property.
www.montgomerycountymd.gov/finance
http://dat.maryland.gov/Pages/Tax-Credit-Programs.aspx
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