Aging-In-Place Tax Credit Available To Howard County Seniors

HOWARD COUNTY, MD — As part of Howard County’s commitment to providing a high quality of life for older residents, County Executive Calvin Ball is offering an Aging-in-Place tax credit equal to 20 percent of the county tax up to $650,000 of the assessed value.

"Howard County anticipates an increase in the older adult population from 14 to 18 percent by 2025. As our residents live longer, healthier lives, it’s important that we evolve to meet their needs. For our older residents who wish to stay in their long-time homes, this tax credit is just one incentive to help make that choice feasible. We want to create a community where everyone feels safer, welcomed and engaged," Ball said.

In 2017, the Maryland General Assembly authorized the tax credit statewide to encourage older adults who wish to age in place in their longtime homes. The law allows local governments to pass individualized property tax credits for their jurisdictions.

Eligibility for the tax credit requires a minimum age of 65 years old, and at least 30 years, as of June 30 preceding the tax year, residing in a dwelling with an assessed property value up to $650,000. Retired service members of the United States Armed Forces with 20 years of active service, or their surviving spouses, are also eligible for the credit. However, the surviving spouse must not be remarried.

The number of years qualifying individuals can receive the credit is eight years. The credit will automatically renew unless the homeowner is no longer eligible. Applications for the Aging-in-Place credit for tax year 2024 (July 1, 2024, to June 30, 2025) will be available March 1. The deadline to apply is June 30, 2024.

Alternatively, the Senior Tax Credit, a credit of 25 percent of the county property tax, is available to residents aged 65 and older with a combined household income of $102,200 or less and net assets under $500,000, not including the value of their home. Applicants with income less than $60,000 are required to apply for the State of Maryland Homeowner Property Tax Credit Program here.

All other credits must be applied before this credit is granted. Applications for the tax year 2024 (July 1, 2024 to June 30, 2025) will be available on March 1st. The deadline to apply is October 1, 2024. An online application is coming soon.

Additionally, homeowners with limited income may qualify for a 60 percent credit against the Trash Fee and Watershed Protection Fee and an exemption from the State Bay Fee. A family of four may qualify with income up to $78,000 for tax year 2024. Renters may also qualify for an exemption from the State Bay Fee. The deadline to apply for this tax credit is June 30, 2024. Seniors who receive the Senior tax credit will receive the hardship credit.

Another type of tax credit available to residents is the Livable Homes tax credit for certain types of accessibility features installed in a principal residence. The feature must have been installed in an existing primary residence. The amount of the credit is equal to 100 percent of the eligible cost or $2500, whichever is less. The application for tax year 2024 is due April 1, 2024.