New Property Tax Credit for Some Montgomery County Residents
Montgomery County MD – Longtime property owners and military retirees 65 years and older may be eligible for a break on their property tax. The new property tax credit provided in recently enacted Bill 42-16 provides a tax credit to people over 65 years of age who have lived and owned a dwelling for at least 40 consecutive years, or are retired from one of the U.S. Armed Forces.
This bill, passed by County Council, provides a 20 percent credit on County property taxes for owner-occupied dwellings for which at least one of the owners meets the stated eligibility requirements. For more information visit the website.