Student Loan Debt Relief Tax Credit – September 15th Deadline
Maryland students who have at least $20,000 in undergraduate and/or graduate student loan debt, and have at least $5,000 in outstanding student loan debt, can apply for the Student Loan Debt Relief Tax Credit. Visit mhec.maryland.gov to learn more and apply. Applications are due September 15th.
Renters tax credit – October 1st Deadline
If a renter is over age 60 and has less than $200,000 in assets, the renter is eligible to receive a tax credit of up to $1,000. Also, Prince George’s County gives an additional credit of 50% of the state credit so the maximum credit in Prince George’s is $1500. The renters must be living in a building where the owner is paying real estate taxes (i.e. not a government owned building). The deadline for filing is October 1, 2022. The application and instructions are on the Department of Assessments website.
Tax relief for homeowners – October 1st Deadline
State law established the Homestead Tax Credit to help homeowners deal with large assessment increases on their principal residence. You only need to apply for the Homestead Tax Credit one time. To learn more and see if you qualify, visit the Maryland Department of Assessment and Taxation website. This year, the Maryland General Assembly approved legislation to extend the submission deadline for the Homeowners Property Tax Credit and Renter's Tax Credit to October 1, 2020.
Contact us
Please let us know if there are other issues you have questions or thoughts about. And, of course, feel free to be in touch if we can be of help to you. Just email 21stDistrictDelegation@gmail.com or call 301-858-3141.
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