[MD-Sligo] FW: Committee Introduces Bill to Increase Eligibility for Homeowners Property Tax Credit
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Tue Feb 11 20:11:54 UTC 2025
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From: Council President Kate Stewart <Councilmember.Stewart at public.govdelivery.com>
Sent: Tuesday, February 11, 2025 2:32 PM
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Subject: Committee Introduces Bill to Increase Eligibility for Homeowners Property Tax Credit
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>From the Offices of Council President Kate Stewart, Councilmember Andrew Friedson and Councilmember Sidney Katz
Committee Introduces Bill to Increase Eligibility for Homeowners Property Tax Credit
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The program allows credits to eligible homeowners’ property tax bills
ROCKVILLE, Md., Feb. 11, 2025—The Montgomery County Council’s Government Operations (GO) Committee introduced legislation today that would expand eligibility for the County’s Supplement to the Homeowners Property Tax Credit (HOTC).
The HOTC is a progressive tax credit administered by the State of Maryland’s Department of Assessments and Taxation (SDAT) where lower income households receive a larger credit on their property taxes, so relief is targeted to residents on limited incomes who need it the most. The County provides a Supplement to the State credit using the same eligibility criteria as the State.
Bill 3-25, Homeowners’ Property Tax Credit – County Supplement – Amendments, would increase the combined income eligibility level for the County Supplement from $60,000 to $75,000, and it would increase the net worth criteria from $200,000 to $250,000. According to state law, the County may vary the income and net worth criteria for the County’s Supplement.
“The Homeowners Tax Credit increases stability for our residents, especially seniors on fixed incomes and those who are the most burdened by increasing assessments by helping them stay in their homes,” said Council President Kate Stewart, who chairs the GO Committee. “I appreciate the collaborative work of my colleagues to find an equitable path forward to provide a targeted solution.”
“As property assessments continue to rise across Montgomery County, more homeowners, especially those on fixed or limited incomes, are becoming cost-burdened and in need of relief,” said Councilmember Andrew Friedson. “That’s why I have consistently pushed back against property tax increases amid rising assessments and why I’ve been working on targeted tax relief to help older adults in our community age in place.”
“I’m happy to work alongside my Government Operations Committee colleagues in continuing the work to provide eligible residents a needed property tax credit that would help them to remain in their homes,” Councilmember Sidney Katz said. “This legislation puts them in a better position to have that option available to them.”
The County supplement to the HOTC currently applies to $300,000 of a home’s assessed value and allows credits against a homeowners’ property tax bill based on the income level of the homeowner. The bill would increase from $300,000 to $375,000 the assessed value upon which the credit could apply.
Under Bill 3-25, the credit amounts would increase from existing amounts and would continue to vary based on the homeowner’s income level. All credit amounts would be increased annually based on the Consumer Price Index.
The legislation would also require the County Executive to submit an annual report to the Council by March 15 of each year describing program participation in the current tax year.
A public hearing is scheduled for March 4. <https://links-1.govdelivery.com/CL0/https:%2F%2Fmontgomerycountymd.granicus.com%2FMetaViewer.php%3Fview_id=%26event_id=16394%26meta_id=189127/1/01000194f67f7e63-93f3ae00-16cf-4e98-8c09-d9fdac419ade-000000/NhzomSYgKAobXlPp0y-Dzm3UDG_kG1sciGE4azcBoTU=391> More information can be found in the staff report.
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Contact:
Cecily Thorne
301-910-0610
Cecily.Thorne at montgomerycountymd.gov
Cindy Gibson
240-620-8571
Cindy.Gibson at montgomerycountymd.gov
Sharon Ledner
240-777-7812
Sharon.Ledner at montgomerycountymd.gov
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