For Immediate Release: Friday, July 21, 2006
Council President George Leventhal and County Finance Department director Tim Firestine joined forces today to highlight the expanded Property Tax Credit program designed to help County residents who are caught between modest incomes and rising property tax assessments.
The Homeowners Property Tax Credit Program was recently expanded by the County Council. Eligible households who can earn up to $60,000-- and who have assets of less than $200,000, not including their home or retirement accounts -- can apply for a tax credit that averaged nearly $900 last year.
“Due to rising assessments, there are plenty of people – especially seniors and those on fixed incomes – who may be relatively ‘cash-poor’ but ‘house-rich,’ “said Leventhal. “Last year, nearly 80 percent more County residents received this targeted property tax relief than in the previous year. But we know there are plenty of folks who haven’t yet applied.”
“We encourage all who believe they may qualify to apply for this credit,” said Firestine. “Just call 1-800-944-7403 or visit the County’s website at www.montgomerycountymd.gov. to get an application. The deadline to apply is October 31.”
The County has already sent a notice about the credit in its annual July mailing to all homeowners. The County plans to further publicize the expanded Property Tax Credit through mailings to community organizations, radio and television public service announcements, placards on Ride On buses, and with materials at the County Fair.
Release ID: 06-079