Last Chance: Apply for Homestead Tax Credit

If you own the home that you live in, you could qualify for the Homestead Tax Credit, which could save you up to $1,000 per year on your real estate taxes. But the deadline to apply for the credit is Dec. 31.

The credit was established in order to keep property taxes stable as property values increase. Many homeowners have received this tax credit automatically in the past, but starting this year, the government requires homeowners to apply for it through a one-time application.

Applications must be postmarked by Dec. 31.

Thankfully, the application process is pretty simple, and there is an online tool hosted by Maryland state government that allows homeowners to check the status of their credit.

First, check the status of your home with this online tool.

If you see the words "no application," then Monday is your last day to get that application in the mail. The application can be found on the Maryland State Department of Assessments & Taxation's website.

For more information on the homestead tax credit, visit the Maryland State Government's frequently asked questions site.